Generally a wise decision when it comes to anything that has this type of release schedule, from phones to 3D printers. Buy one generation, skip one, maybe upgrade the next, depending on relevant improvements.
With CPUs I'd say skip more than 1. I've been doing every 4 generations, and given how poorly Intel's 14th gen performed, I'm waiting another still.
The improvements are very small in this space right now, for the most part.
Yeah I'm doing totally fine with an i7-9700K, although having 32gb sure helps.
2060Super GPU is starting to feel dated though!
My own 9700k is starting to creak a bit, but that was my own mistake buying a 144hz monitor.
Yeah, my mistake buying an ultrawide monitor. My 4yo rig can push 1080 okay but 3440x1440 is a bit much. I don't dare aspire to anything higher than 60fps.