Depends on how big your projects will be, and expectations. As well as how you like to organise your work and files.
Ableton Live likes actual cores, it won't use efficiency cores on the likes of Intel.
So as many cores as you can afford, but eight is fine for home use and getting started.
The more tracks and plug ins you use and work with, the more memory. If you can afford 32gb go for it, it's probably the sweet spot. Your not going to be needing 64gb until someone is paying you for your work and time, and by that time you will be needing 12 to 16 cores.
I would try with what you have and see what it feels like.
Plenty of people are not doing anything complex and plugging away with 6 cores, 16gb or ram and an external hard drive.
Multiple drives can be beneficial, programs and plug ins on one, samples and libraries on another, projects and considerations on another and some form of back up and even a large mechanical drive simply acting like a wardrobe or secondary back up on projects you may go back and forward with.
You may also want a quiet pc.
I would probably make sure your bios is up to date and see if the motherboard can run a 5000 series CPU.
The 5900xt is available for £270 that would be my go to if I was building an AM4 Daw.
32gb of DDR4 will be £260, £500 for 64gb
You are probably limited to two NVMe drives so with current prices I would suggest replacing the 1tb, basically populating the available NVMe slots with 2tb drives, or even a few 1tb or bigger SSD's.
Really it depends on budget and expectations, if it's starting out due to college courses, start small.
I would probably want a non windowed PC case designed for quiet operating such as Be quiet, and a quiet cooler and PSU. With room for a couple of HDD just in case.
If only for music another option is simply a Mac Mini M2 or M4.
An example of my sons DAW for Ableton Live and course work.
9900x
B850 motherboard chosen due to a good number of USB.
32gb of memory
2tb Gen4 NVMe with plans for another two. I think he has cloud back up through the college.
Be quiet silent wings AIO
Sapphire 9060xt 16gb for gaming
NZXT C750 PSU.
NZXT H6 Flow with Be quiet fans.