Help optimising new build parts

So I think I’d be (marginally) better off selling my old PC and starting fresh. I mainly use it for Sim racing, but plan to get into other games and some light video editing. I think I can get ~£500 for my 5600/16/1tb/2080 and buy a new AM5 for £1080. I was planning a 4070 upgrade and maybe a 5700x, which would work out only ~£120 cheaper than this new build. Is this a good deal, could you suggest some more optimal parts? https://uk.pcpartpicker.com/list/Zr4hqH