For video editing, RX 5xxx parts aren't very good. I would opt to downgrade the 3900x to a 3700x and upgrade the gpu to a RTX 2060. The encoding time for the rtx2060 over the 1660 is fairly substantial, but anything above the 2060 is relatively minor.
Some bench marks: 1, 2

I would like you to upgrade the psu to a higher quality unit, but the pickings are slim atm.
 
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Phaaze88

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PCPartPicker Part List

CPU: AMD Ryzen 9 3900X 3.8 GHz 12-Core Processor ($419.94 @ Walmart)
CPU Cooler: Thermalright ARO-M14G 73.6 CFM CPU Cooler ($49.99 @ Amazon)
Motherboard: Asus TUF GAMING X570-PLUS (WI-FI) ATX AM4 Motherboard ($189.99 @ Newegg)
Memory: G.Skill Ripjaws V 32 GB (2 x 16 GB) DDR4-3600 CL16 Memory ($149.99 @ Newegg)
Storage: ADATA XPG SX8200 Pro 512 GB M.2-2280 NVME Solid State Drive ($74.98 @ Amazon)
Video Card: EVGA GeForce GTX 1660 SUPER 6 GB SC ULTRA GAMING Video Card ($239.99 @ Newegg)
Case: Lian Li LANCOOL II-X ATX Mid Tower Case ($94.99 @ Amazon)
Power Supply: Corsair TXM Gold 550 W 80+ Gold Certified Semi-modular ATX Power Supply ($99.99 @ Corsair)
Case Fan: ARCTIC P12 PWM PST 56.3 CFM 120 mm Fan ($12.99 @ Amazon)
Case Fan: ARCTIC P12 PWM PST 56.3 CFM 120 mm Fan ($12.99 @ Amazon)
Total: $1345.84
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2020-07-01 20:51 EDT-0400
 
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