Ryzen CPU (at least 8 cores - the next gen consoles will be 8 core/16 threads, so games going forward will need that. Two years from now, 6 cores/12 threads will struggle, and 4/8 simply isn't going to work.) Stock cooler will be just fine. Intel is overpriced for what it delivers - and that isn't changing anytime soon.
AMD Radeon 5700XT - better performance per dollar. See
www.mooreslawisdead.com
To get a good idea of performance per card.
X570 motherboard - how much RGB nonsense is up to you.
32Gb ram - 2x16 sticks 3200 memory - these will give you an upgrade path, when 32Gb is no longer enough.
NVMe Drive (512Gb for Boot)
1 4Tb HDD for data. - Looks at Steam library - 1.5Tb of games ? If you don't have a lot of games, get a 1Tb NVMe drive.
1440K High refresh rate Monitor - I'd suggest 32in.
As others have said, don't bother with watercooling or overclocking - at best, you are only gaining 1 or 2 FPS. These two things are textbook definitions of "diminishing returns".
One more thing......
Ultra settings are for screenshots.
High settings are for playing.