Yea should work fine. Studio + rtx 3xxx chips will do almost all h.265 decoding in hardware so it should be smooth. I don't see the gpu causing any issues here.
Thank you so much!!! for detailed explanation and reviewing my build. I went with 5700xt as DR is supposedly working with AMD and making 5700 cards much more compatible with their rendering and color grading procedures in near future. But I will definitely keep an eye out for 2060 super as in terms of test and other geekbench it is just tad below 5700xt.
The reason I went with one NVME as I am trying to keep my initial build under 2500$ and in future when things are getting more stable financial I can always opt in for another SSD or NVME for that matter.
I went with 32gb 3600ghz as it works best with 3900x and recommended by AMD.