I too have a 2020 iMac and don't plan on renewing it any time soon.
As some say, OS15 may possibly be the last official release for Intel Macs. But after that I'd be very surprised if the Open Core Legacy Patcher team don't review their magic and release something to see our 2020 (and earlier) Intel Macs singing & dancing well into 2030 and beyond.
Fwiw, I've just upgraded my ancient 2013 MacBook Air 4Gb/128 laptop to OS14.7 Sonoma. (OS15 Sequoia wasn't advised by the specialists). I initially did it for a bit of fun and thought I'd be really pushing my luck with only 4GB RAM memory, but was truly astonished at the excellent performance for general everyday use. It even plays back YTube videos superbly without any signs of stuttering or other problems!
My advise is, don't write off and trash early Intel Macs, let alone our 2020 iMacs without researching current/future OCLP possibilities.