Your system's Achilles' heel is the i5. Upgrade it to an i7 without changing mobo. Get faster SSD and maybe supercharge it with Optane in conjunction with Enmotus's caching software. Upgrade your GPU and save the rest of your cash for when you really need it. That's what I would do. Incremental upgrades make more sense until they are no longer possible. You have plenty of upgrading possibilities at your disposal without breaking the bank.- I personally enjoy buying a higher end system so I can play older games at super maxed out settings, not so much playing current and next gen games at maxed out settings.
For example, My 980 TI has served me really well playing X360 and early gen XBO titles at 1440P/144hz or even with DSR cranked up for that buttery smooth look, but I haven't attempted anything too new (outside of Doom 2016) otherwise. Games like Dishonored 2, DX: Mankind Divided, and newer are waiting for an upgrade before I get to enjoy them totally maxed out.
Additionally, many newer technologies need a fair amount of time before their benefits are baked in to game engines. We've had cheap, plentiful cores since around when I bought my system, but my CPU is really only starting to be a major bottleneck in the newest titles. With the next gen consoles stamped out using current gen tech, (and using some NVME direct access magic) I don't anticipate things like DDR5 are going to affect the gaming experience substantially.
My goal would be to get set-up with a solid 8c/16t CPU and a platform that's PCI-E 4.0 ready and hold on to that baby for the next 4-8 years. Slap an Ampere or RDNA2 card in there and baby you got yourself a stew goin'.