GPU is a simple swap out, same goes for RAM modules. The CPU however will (almost certainly) need a new motherboard if you intend to upgrade to latest gen. Certainly doable but you need to be aware.
My tinder bio says that I have a corner office with views across the city, drive a £250k company vehicle and get paid to travel.
They always look so disappointed when I tell them I'm a bus driver.
See if you can stretch to the i5 11400F, this time last year it was hailed as THE budget gaming chip. Pair it with faster RAM and a 1660 (or better) and you'll be better off. The sad truth is that these days £700.00 gets you very little I'm afraid.
Mercedes gambled, they rolled the dice and came up snake eyes. Move on. Lewis now has to fight his team mate, that's where the excitement should be but only if Mercedes don't hobble the action with team orders (read 'let Lewis through or he'll get werry, werry upset. Again".)
Do you need that many cooling fans? 😁 Seriously though, what are you aiming to use this pc for, what sort of games? What monitor are you going to use? Is there any wriggle room in the budget?