It all depends (especially on the resolution you’ll be running at).
After you upgrade your GPU, you’ll likely find your next bottleneck is the CPU (main thread limitation). In that case, go for a new Ryzen 5. It’ll be quite a bit faster than your 2700. Just stay away from the 8+Core CPU’s. They’re not worth it.
If you’re not careful you’ll end up in the neverending upgrade cycle, tackling bottleneck after bottleneck.
Right now the GPU should be first. If you like the sim performance after that, stop with the upgrades, if not, keep upgrading (budget permitting)
Just don’t go into that rabbit hole too deep, it gets expensive fast.