i5 enough? 4070s or 1070?

Hey, so I currently have an i7 4790 with an 1070. I can still play most modern games, but it's starting to get rough (currently playing Elden ring on the lowest settings 1080p with 40-60 fps, Helldivers 2 with 30-50 fps, modded minecraft with like 60-80 fps; and I am sorting and editing raw pictures with lightroom and photoshop - sorting is quite slow with pictures sometimes taking 5-10 seconds to load in the windows file explorer thingy)

This is why I am thinking about buying sth new. However, currently I am unsure if an i5 (12-14th gen) or i7 (12-14) is better for my needs (I mean i7 is obviously better but won't a i5 be sufficient, potentially saving me 100-150€?)? Afaik there's barely any difference between these generations (except half price between 12 and 14 lol)?

And if I'm already upgrading, I will also buy either a 4070 oder 4070s (or do you think my 1070 could even bump me back up to 60 fps @1080p with a new cpu (currently cpu is my bottleneck)? Afaik the price difference here is only 50-70€, so the 4070S is probably way smarter. What about keeping my 1070?

For the rest I want to use 32gb ram, 850W 3.0atx PSU to be safe & potentially future proof (or is this a waste of money?)