If I would you, both CPU and GPU is important when it comes to video editing and rendering. Just upgrade both, to both Intel i7 CPU and AMD RX series / Nvidia GTX series.

GTX 1050 is good enough, but not the best for 4K (UHD) video editing rendering la.

Which CPU socket you use? Is it LGA 1151?

Why go for the older LGA 2011 when you can get latest LGA 1151 motherboard that is available today?
What's your budget?
And currently how's your desktop spces like?
What kind of video do you edit? Use what software?

Rule of thumb, always upgrade cpu first before upgrading gpu.

Because

1. many functions of premiere pro are not gpu accelerated.
2. Support for gpu is limited to certain cards.

Very often you will see gpu 0% when doing most tasks, even with 3d elements put in when encoding the video.

For cpu, go for benchmarks to compare.

So when can you start putting money into gpu ? Where is the bottle neck?

Maybe when you reach threadripper level then you might consider gpu.
Even with gpu, you will probably only get 20% utilisation on your gpu whereas you will get 99.9% multi core use with your threadripper.

Ok be honest to yourself, what have you done on your Premiere that racks up the gpu. Have you tracked it?

Yeah but did you notice your gpu even go above 1%?

Those settings by right don't use gpu acceleration.

I have forced gpu acceleration with 980ti, and the rendering is even slower than the non oc i7-4790k alone.

But that said, my pc is not primarily video editing, so the gpu purchase isn't a regrettable purchase.

But from a purely video editing standpoint, the cost is not justified until you cap your cpu.

Same settings?
Same video?

Adobe has a very short list of functions that benefit from gpu actually. I thought the gpu acceleration was a big deal from the guides online until i saw the real numbers and then went to the forum to learn gpu is not quite the usual system people run for video. That is also why Ryzen, a multicore cpu bragged on their Cinebench data instead of gaming data.

My exports has never touched the gpu one bit, mostly because my simple setting has not touched those ones they listed.

Sifu Kentang Emas has spoken bro

Don't waste money on Xeon E5-2660, 8c 16t, 2.2ghz.

So old. What's your budget again? RM 2k?

Corsair LPX DDR4 2x 8GB = RM 600.
RYZEN 5 1600 = RM 1039
ASRock AB350M HDV = RM 335

Total cost - RM 2k, sell off your old parts - cost refuse further.