Question Will my current Motherboard + GPU allow adding another PCIE card at x8 without dropping the current GPU below the x8 it is currently at?

which CPU?
is your GPU plugged into PCIe_1?
won't be slowed down in any configuration if you did, always 16x available

AMD Ryzen™ 5000 Series/ 3000 Series Desktop Processors
1 x PCIe 4.0 x16 slot (supports x16 mode)
AMD Ryzen™ 5000 G-Series/ 4000 G-Series Desktop Processors
1 x PCIe 3.0 x16 slot (supports x16 mode)
AMD B550 Chipset
1 x PCIe 3.0 x16 slot (supports x4 mode)*
3 x PCIe 3.0 x16 slots (support x1 mode)*
* PCIE 3.0 x16_4 will run x1 mode when any of the PCIE 3.0 x16_2/3/5 slots is
occupied
 
CPU: AMD Ryzen 7 5700G

As far as I know, the GPU is in the top most slot of the MB right under the main SSD which should be Slot 1. But, that also covers up slots 2 and 3 so they aren't usable. However, the expansion card requires x4 which means I should put it in slot 4 anyway, correct?