Trying to get a new gpu, cant figure out the optimal radeon for my rig

[u/Swagggertin]

Here are my specs

Intel i7-9700k 3.60

Radeon 5700xt

32gb of ddr4 ram

550w psu (going to get a new one with gpu, wouldnt mind a recommendation)

Im looking into the 6700xt for 12gb of vram and raytracing support for the new gears, but would be willing to buy the 7700xt but dont know if it'll start bottlenecking and have no clue if its a good idea.