Need help upgrading pc (small budget)

Hi everyone, I’m looking for some advice on upgrading my PC and figuring out which components I should prioritize.

I mainly play Valorant, but I also casually play other games such as Death Stranding, Cities: Skylines, and similar games. I recently started looking into upgrading my PC, but I’m not sure whether I should prioritize the CPU, motherboard/RAM, GPU, or something else.

Current PC specs:

* CPU: Intel Core i7-5960X

* Motherboard: Gigabyte GA-X99-UD4

* GPU: NVIDIA GTX 980 4GB

* RAM: 32GB

* PSU: Corsair CX750M 750W

* Case: Stealth case

* Monitor: MSI 24” 240 hz 0.5 ms

For Valorant, I’m particularly interested in getting higher and more consistent FPS so I can actually take advantage of the 240Hz monitor. I also want the upgrade to improve performance in newer games, rather than upgrading specifically for Valorant and then being limited elsewhere.

My rough upgrade budget is around $500, although I’m open to spending differently if there’s a significant difference in value.

What would you upgrade first with this setup? Would it make more sense to replace the CPU/motherboard/RAM first and keep the GTX 980 temporarily, or should I try to include a GPU upgrade in the same budget?

If possible, I’d also appreciate recommendations for specific CPU/GPU/motherboard/RAM combinations that would make sense for this budget.

Thanks!