1) RYZEN 1700 etc:
Your best bet would be a 4/6-core CPU later, especially since AMD and motherboard manufacturers need several MONTHS to fix issues.
So that's out if you need it now, and it's unlikely to match an i7-7700K for gaming so it's more about saving a little money.
2) i5 vs i7?
The i7 is starting to see more benefits in some games, and since it's NOT a budget build I recommend spending the extra for an i7-7700K.
And no, the i5 isn't just for 1080p. A lot of CPU bottlenecking happens in MULTIPLAYER games due to calculations of player data so an i7-7700K can still beat an i5-7600K at 1080p in some games.
*There's also the question of whether an i5-7600K will be enough for the near future. DX12 and Vulkan can use a CPU more efficiently (in theory) but it's SLOW to come in due to technical challenges so all we know right NOW is that CPU requirements have, on average, continue to rise.
Even when DX12 gets efficient game developers can still put in taxing CPU features like AI.