Yes it's worth. 7700k is a hot chip right out of the box, due to the poor TIM and excessive gap between the IHS and chip's die.
At a mild OC like 4.6GHz you won't see much of the heat output, but when you go higher then only you will notice the hotness reaching 100C.
Delidding will give significant lower temperatures by around 20C off, which is a huge figure.

My chip runs at 5.0GHz @ 1.275v and the temp during gaming is 80C while stress testing can reach as high as 90C.
Hotter temp means my cooling fans will spin faster, resulting in the increase of noise level.
By delidding my CPU, my chip should be able to run at ~70C with a lower fan speed and much quieter.

Why OC till 5.0GHz? Because you can get extra performance and remove possibility of any CPU bottleneck.

Yes, that's the only disadvantage of CPU delid