@MelaTrix18 Sims 4 is much harder on the GPU than the CPU, like most games. It's more CPU-intensive than Sims 3, and probably more than other comparable games, which may be where you found that information. What is definitely true is that the lag inevitable in Sims 4 can clear more quickly on a higher-end processor. There's no way to avoid it entirely, only mitigate its effects.
An RTX 4060 is overkill for Sims 4 even if you plan to play at a high resolution and/or a high refresh rate. It's more than enough for 2560x1440 at 144 fps, other than the game's unavoiable slowdowns. If you're planning on playing at 4k, that might be a different story (I'd need to poke around a bit), although 60 fps shouldn't be a problem. That's not to say don't get the 4060, only that it would be wasted on a lower-res or lower-refresh-rate monitor. For keeping costs down, you could get a used 3060, 2060 Super, or 2070 and still have an overkill GPU, and maybe upgrade in the future if and when you want to play another game that demands it.
I would strongly suggest upgrading the processor. A Ryzen 7 5800X is significantly cheaper than a 3700X, according to PCPartpicker, and last generation's best CPU for gaming, the 5800X3D, is barely more expensive. (PCPartpicker hasn't updated, but Amazon has the price at £224 right now.) Either one would be a significant upgrade and keep the computer viable for longer, not to mention be able to drive a faster graphics card down the line if you want one. More CPU power also means better results in streaming, which can be resource-intensive; if you're looking to stream at high quality rather than simply record, the £260 12-core 5900X is the best option. (The others are more than fine for recording.) The motherboard you've picked out is compatible with all of these.
The power supply is similarly overkill, and there's no reason to get an 850W unit rather than, say, 650W, unless you're planning to upgrade the GPU down the line. Again, this isn't a problem, only a detail worth mentioning. Corsair is the gold standard in PSUs, and quality is much more important than wattage so long as the wattage meets the hardware's minimum requirements.
The storage is fine, the motherboard is fine, and the RAM is fine, although I'd go with a 3600 kit if you can find one. AMD CPUs love fast RAM, and DDR4 is cheap these days. Memory is also easy to manufacture at a high quality, so you can simply pick whatever you like from any decent brand and not worry about it. This is the support list for your motherboard:
https://www.msi.com/Motherboard/MAG-B550-TOMAHAWK/support#mem
Compare the exact product number with what you see on the site, and double-check that the board can in fact run the kit at its maximum listed speed.
If you have more questions, please feel free to ask. And congratulations on building your first PC, which is an exciting prospect in any context.