For $700, I'd agree with you, go for that.
If you want to spend a little more though, the old 5K LG Ultrafine would give you more screen real estate if you don't use scaling while still retaining the 1 cord I/O. That said, non-scaled 5K at 27" means everything's going to be pretty small...
Also, just be weary that MacOS will foolishly default a 4K screen to 1080p scaling, so everything is going to look STUPID ENORMOUS. at 40+ inches, it's best to turn scaling off completely so it doesn't make UI elements huge and rob you of the screen real estate you're looking for.
I use SwitchResX to do that on my monitors.