right now there’s not a single reason to pick Intel over AMD if you’re going to replace your motherboard anyways.
Ryzen 5 5600X or Ryzen 5800X will both outperform Intel, will overclock (without having to spend extra on a K version, and don’t need a fancy motherboard). The motherboards will be cheaper in general too. They also generally require less cooling (especially the 5600X, it’s a 65W part).
Now that the supply issues on these two chips seem to have been sorted, it’s all good to go.
Pick any B550 motherboard that has the connectors/features you like, couple it with fast RAM (3200MHz at minimum, 3600MHz suggested), and you’re good to go.
Intel will be releasing their 11th gen in about 2 weeks, but a store in germany has already been selling the 11700. It’s been reviewed by Anandtech, and it’s not looking promising.
Still, if you’re not in a hurry, it can’t hurt to await further independent benchmarks in a few weeks before you make up your mind. Especially the pricing on the new 11th gen will determine what will be the best buy.