I would wait for the new Mac Studio..
There is likely not a new Mac Studio coming any time soon.
Mini ... still comatose on M1 it shipped with back in Nov 2020. It is not on a yearly upgrade product cycle.
MBP 14"/16" ... not going to hit 12 month upgrade cycle either. ( apple's line up is set for 2022). So no 12 month cycle there either.
iMac 24" perhaps even more comatose than the Mini. ( rumors about Apple waiting until M3 to do anything. So probably at least a two year squat on that hardware also).
MP 2019 .. nor core motherboard updates for 3 years. Before that 9 years. Before that 3 years.
Apple has no track record over last decade or so at all on keeping upper end desktops up on a 12 month cadence.
https://buyersguide.macrumors.com/#mac
[ NOTE: the average cycle time on the iMac looks like it is close to 365 days, but that is mostly a fluke. The 2019 was more of a refresh than a upgrade. ]
I wouldn't expect a M2 Studio before June 2023. Probably later into 2023 than that.
Not sure why there is a notion that Apple is going to do a very fast refresh of the Mac Studio. Mac Pro and Mini will likely come before that update. M2 Ultra would probably get priority tagged to the Mac Pro before splitting the new package flow for another model. Pretty good chance they will give the Mac Pro a "head start" on the shift to M2 before do a 'catch up' on the Studio. Similar issue at wafer availability level where MPB 14"/16" will get priority in line before wafers for other M2 stuff.
Part of the problem/issue is that nobody else uses these SoCs but Apple. The M1 Ultra is only in the Studio. So if apple kills off the M1 Studio generation early they are also killing off the mechanism to amortize the costs of the M1 Ultra R&D at the same time. this is a product with multiple order of magnitude less unit volume than an iPhone. Or a mainstream Gen 10, 11, 12 Intel CPU. Mapping iPhone referesh cadences on this SoC is highly likely flawed. the SoC base costs are greater and the volume is vastly different.
Over time, the very top end of the Mac line up is likely going to move at a slower refresh cadence than the bottom end.
.but only because there will be a lot of 7,1's going up for sale. As an owner of the 5,1, everything I've already stuffed into this machine will transfer easily. And I have a really long upgrade path. Even if they do start writing out support.
If Apple holds onto their band on 3rd party display GPUs on Apple Silicon it is not very likely there is going to be some widespread , wholesale rapid dumping of 7,1 (MP 2019 ) models. Limited deal with single users bolting for something new on a fully depreciated hardware ... sure. But folks ripping out whole multiple seat deployments on rapid, panic pace ... likely not going to happen.
Apple may not even stop selling 7,1 after the new Mac Pro and upgraded Studio ship. Sell far past end of 2023? Extremely likely, No. But sell well into 2023 and overlap with the new Mac Pro .... pretty good chance. Apple is still selling a Intel Mini about 2 years after selling the M1 Mini. Apple sold the MP 2013 (6,1 ) for six years. I don't think apple is "going 5-6 year zone" this time, but it does show they have zero problems with selling "old stuff" into narrower. very profitable niches over time. ( need a Mac with 1TB of RAM ... Apple probably is not going to cover that with next Mac Pro).
If you're on a trashcan though I get the Studio/Mac Pro M2 looking really good.
The upgrade Mac Pro isn't likely going to be the "new Studio". Probably won't be a flexible as the MP 2009-2012 , but also not as rigid as the MP 2013 either. That 'in between' status is also going to contribute to no rapid stampede off the 7,1 model. Some folks will move and some won't. So used 7,1 prices will likely only oscillate a bit while declining; not uniformly rapidly crater.