While people will say ips is better color, the difference from high end tn vs low end ips is very little and not noticeable unless you have the monitors next to each other. In terms of normal uses, tn looks better because it has better contrast. Also the higher end ips which will be much better will be slower response times and probably have ghosting issues that you don't want in games.
You're not going to notice 1ms to 5ms as both should not have ghosting issues. Also consider 60hz is 16ms per frame and gtg is changing colors 2 times. But more importantly, it's not a reliable number since they can just say best artificial possible and not real world performance. You can check monitor reviews and averages are not close to what is stated in specs.
You would consider 120+hz for faster paced fps or other games. Just my opinion and usage but I'd spend more to go bigger not faster.