New Mac M1 or not?

Purchasing a new Mac, looking at the 27 inch 5K with the 3.8Ghz 8 core 10th Gen i7 at least 64Gb of RAM with the Radion Pro 5500 XT 8GB.

What’s more important for 4K BRAW, the better processor (10 core 10th Gen i9) or the upgraded graphics card (5700 XT 8GB or 16GB)?

Or should I just get the Apple M1 16GB?

Will mainly be using this computer for video editing in FCPX and Resolve.

I wouldn't invest a single cent into an Apple computer with Intel any more. Such an iMac will be outdated by the end of this year.
But if one of the current M1 models, which are all entry-level machines, will suffice highly depends on the type of media and workflow you are aiming for. So, tell us a bit more.

I wouldn't invest a single cent into an Apple computer with Intel any more. Such an iMac will be outdated by the end of this year.
But if one of the current M1 models, which are all entry-level machines, will suffice highly depends on the type of media and workflow you are aiming for. So, tell us a bit more.

Well mostly working with 4K BRAW, I am well versed in FCPX but now that I have a BMPCC 4K and use BRAW I will be doing the color correction in DR and exporting into ProRes to move over to FCPX, until I have enough knowledge on DR. I am taking some classes right now on DR so it shouldn’t be long.

If you are still learning and don't need a new machine right now, I'd wait until new iMacs arrive. Might even be in summer.

Of course, FCP-X flies even on the small machines. Editing BRAW in 4K shouldn't be much of a problem in Resolve either. But once you get into demanding operations which rely massively on the GPU, like temporal NR or any of the 'neural' processes, they'll be limiting you. Another option might be getting a Mac mini M1 now if you have any decent screen standing around and sell it later or use it for working in parallel, like transcoding. It is very fast when converting even the most recent GPO formats into something else.