It's the simplest way to boost your fps without investing in a new platform. Not by that much, 14700 should be some 25% boost on average at 1440p but it's a boost. Typically, 14700 can pull over 200W of power but that's in full load, productivity work. In games, however, it shouldn't go over 120-130W max, or maybe 100W on average. Your motherboard should handle it without issues, as long as you don't fully load the CPU in some all-core workload...gaming is fine.

Here's a catch now. You can save some money and get a 13600K, for example. According to TechPowerUp charts, it's just 5% weaker in games than 14700K but pulls less power, costs less and it's easier to cool. 14700 would make sense if you do some productivity stuff on the side or maybe if you really want to make the most out of the switch, for gaming you don't get much over 13600/14600K.