Hi there. - First upgrade I would absolutely recommend is the 5700 XT with 16GB of VRAM. - The video card is one of the most important parts here. After that, the i7 8-core chip is very very good, but if we are really kicking it the 10 core will likely give some benefit, but I don't necessarily think it's worth the upgrade.
I can recommend Max Yuriev/Max Tech (two channels same guy and his brother) on YouTube. They have a series of Buyer's Guide for Video Editing for the new iMac and have ordered two different configs to test further (not arrived yet). Their buyer's guide is made from a long series of tests of older iMacs with various codecs and cameras which can affect what you need to focus on for parts.
But the config I ordered myself, partially for video editing, is as follows:
i7 8-core (base CPU from the highest config)
8GB of RAM (also upgrading myself)
5700 XT 16GB GDDR6
2TB SSD
I would not recommend the nano texture glass unless you're working directly in front of a very glare-creating window. It makes it less easy to just clean and does slightly reduce sharpness though doesn't affect colour like traditional matte films.
I'm also personally getting it with the extended keyboard so I can use my custom created shortcuts for Final Cut which utilise up to F19.
Hope this helps