Some games are graphics limited like fast action shooters.
Others are cpu core speed limited like strategy, sims, and mmo.
Multiplayer tends to like many threads.
You need to find out which.
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To help clarify your CPU/GPU options, run these two tests:
a) Run YOUR games, but lower your resolution and eye candy.
This makes the graphics card loaf a bit.
If your FPS increases, it indicates that your cpu is strong enough to drive a better graphics configuration.
If your FPS stays the same, you are likely more cpu limited.
b) Limit your cpu, either by reducing the OC, or, in windows power management, limit the maximum cpu% to something like 70%.
Go to control panel/power options/change plan settings/change advanced power settings/processor power management/maximum processor state/
This will simulate what a lack of cpu power will do.
Conversely what a 30% improvement in core speed might do.
It is possible that you have a nicely balanced system and upgrading both cpu and gpu is in order.
The i5-11600K would be a massive upgrade to your I3-8100.
That said, the lower end 12th gen offerings should show up soon, and look to be an even better deal.