Is this PC build suitable for modded Minecraft and AAA gaming?

For this budget, I’d seriously consider moving to the AM5 platform. A Ryzen 5 7600-class CPU would give you a stronger upgrade path. You can save money with a Thermalright Phantom Spirit 120 SE cooler and choose a less expensive PCIe 4.0 NVMe SSD instead of a premium flagship drive. That savings could go toward faster DDR5 memory or a better graphics card. Also compare monitor prices carefully—there are cheaper 1440p options that could free up a lot of money. A quality 750 W power supply would be a sensible choice if you upgrade the GPU later.

The CPU choice is worth reconsidering. A Ryzen 5 5600X can be a good value option if you stay on AM4, although AM5 is preferable for future upgrades. You could also use a cheaper cooler, reduce the SSD to 1 TB if that is enough for your games, and put the savings toward a stronger GPU. For gaming, the graphics card will usually have the biggest impact, so compare current benchmarks and prices for cards such as the RX 6700 XT, RX 7800 XT, or RX 9060 XT. A less expensive airflow-focused case could save money without hurting performance.

A balanced alternative would be a modern AM5 build with a gaming-focused Ryzen processor, 32 GB of DDR5-6000 memory, a 1 TB NVMe SSD, and a 16 GB midrange graphics card. Pair it with a reasonably priced 1440p monitor and a reliable 650–750 W power supply. The exact parts should depend on current Australian pricing, but avoid spending too much on the SSD or monitor if it means compromising the graphics card.