All of that will work fine:
yuo can probly save some money with a AMD 3700X, X570 Mobo, and slightly faster ram (3600 CAS 16 would be good). you want more than a 500 GB SSD for modern games unless you only play 1 or 2 at a time: some games exceed 100GB in size now). I'd add a 2TB spinny drive for storage and games that don't need fast load times
If its available, you want a better quality PSU -- 80+ Bronze or better from Seasonic, Antec, Be Quiet!, or Corsair. Or 80+Gold or better from EVGA.
the liquid cooling is unnecessary, air cooling is fine, and the cooler that comes with the 3700X is a fantastic cooler, so you wouldn't need the thermal paste either