That's very similar to my build from September. I also went Ryzen 7 3700X. That chip should ship with the Wraith Cooler, which is actually very efficient and multiple comparisons show it to work as well as or better than all but the most extreme liquid coolers. If you have an efficient case, the liquid cooler is totally unnecessary. Can't imagine heating that thing up enough to need liquid. It's actually made by Cooler Master and is quite stout. Check that out before you spend the extra dough. I have a brand new CM Liquid Cooler sitting in the box I don't need.
That processor is possibly the greatest ever for music production. Quite a dramatic switch from the troubled recent past with AMD lagging far behind Intel in that regard. The tables have turned big time. I can throw an absurd load at it and it doesn't even begin to complain. We're talking projects running over 30 tracks of software synths, audio, and numerous plugins running simultaneously at 96K 24 bit resolution with 5ms latency buffering. No sweat.
That's also including running a dozen or more external MIDI devices via combination of standard MIDI 5pin I/O and USB... that are then being recorded via the audio inputs of the (Focusrite) interface.
It's totally absurd and I love it!
I went ASUS ROG/Strix B550f for my Mobo, and am running multiple SSDs and NvME drives. 750w power supply, 32gb DDR4 at 3600 (and actually clocking at 3600). Carried over my old 750Ti video card until the new super duper stuff is accessible and it's more than adequate.
I went crazy with the RGB stuff, but not on purpose... my main goal was to assemble a collection of stuff that was known to work well. My priority was functionality over anything else. Ended up with a crazy rainbow of flashing lights that are silly but kinda fun.