I haven't built a fresh PC since like 2021, what is the market looking like today?

I am lost when it comes to the current state (meta?) of components. I asked around and my friends suggest AMD is the go to for CPU instead of intel now, I am still fine sticking with Nvidia-Intel combo though.

What would be the equivalent of these specs if I were to buy the latest components?

i7-8700K CPU @ 3.70GHz

NVIDIA GeForce RTX 3070

RAM: 16312 Mb

I know I want to move up to 32gbs of ram, and maybe even just using my 3070 still, considering my CPU is whats bottlenecking most games I need performance in (particles and a lot of simulation makes me frame drop).

I don't want to ball out and buy the highest end components, but I can comfortably afford whatever right now. This would be used to game and make music/ audio engineer. Thank you!