If you have slow memory, then faster memory helps a whole lot--more than just about anything you can do to your computer. But, once you have fast enough memory, then even faster memory does very little. Think about food. If you don't have enough food, then every additional morsel of food that you get is fantastic. But, once you are stuffed, more food at dinner does very little because you are too stuffed to eat any more.
For the 12700, the cutoff is roughly at 3200. Memory slower than 3200 will really hurt performance. Memory faster than 3200 only gains you a minimal amount. If you want that last tiny bit of performance, then go for DD5. If not, then DDR4 is fine for now. It isn't like your CPU will suddenly have the ability to use faster memory years down the line.
I would consider more your plans with the CPU and memory in the future. If you are likely to upgrade to Raptor Lake, then you might have a need for DDR5 memory. Or if you plan to take that memory and put it into a computer down the line, then DDR5 might be the way to go. If not, some good DDR4 will be just fine.