Is my pc SAVABLE?

Hi, with the EOFY sales now, I was wondering if it was the appropriate time to either get a new pc or salvage and upgrade only some parts.

For context, I only use the pc for low res competitive fps games, hence I was thinking of just upgrading the CPU as they are more demanded. I'm aiming for consistent 240fps. Haven't set a budget (AUD) yet, hoping to get your guys input. Would be appreciated.

This is my current specs.

Device name XPS8930

Processor Intel(R) Core(TM) i7-8700 CPU @ 3.20GHz (3.19 GHz)

Installed RAM 16.0 GB (15.8 GB usable)

Graphics card NVIDIA GeForce GTX 1070 (8 GB)

Intel(R) UHD Graphics 630 (128 MB)