It is near seven years old now. It will do in a pinch and it is still usable today. CPU's do not age as horribly as GPU's.
That said, unless you were given it for free, I would consider a more contemporary CPU.
The 8700K and my 9700K are pretty similar, except the 8700K has hyper-threading. In games, the performance difference is basically negligible, around 1%. Game performance, in general, great. Absent of multi-threading support, the 9700K does show little signs of struggle in CPU-intensive titles, something you’re unlikely to experience with the 8-core 16-thread 8700K.
8700K/9700K = somewhere between a Ryzen 3600/5600.
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