Hi ProfessorW00d,

If I opted to regular RTX 3070, I will need to change the PSU as well, correct? Can you advise the required watt.

I actually wanted not to change PSU as I don't want to go through all the mess with changing cable, but seems like it is the only way if I choose to equip new GPU 

If you are upgrading to RTX 3070Ti Founders Edition, you should have a minimum 750 watt PSU.

Your PSU in the Aurora R7 is standard ATX format. You should consider a PSU that is 140mm to 150mm long and fully modular.

These are some options to look at on pcpartpicker 

Not worth upgrading because of the bottleneck the 3070Ti in combination with the 8700 CPU will cause.

You will be looking at a 30% bottleneck at 1080P resolution.

Always check the potential bottleneck before upgrading a video card. A 3060 is a better match for your CPU at 1080P resolution. Still around a 10% bottle neck, but much better than a 30% bottle neck.

Well, first, I think I would analyze why you think you need a new video card because GTX-1080 is pretty nice still. Is some game not playing right? What resolution are you running it at?

Second, if you don't see it on build-sheet, Invoice, online specs, etc ... I would verify what Power-Supply you have. You might have gotten a system with an Intel-i7 and GTX-1080 with only a 460w PS, but more likely ... it's a 750w. If no other way ... look at large-sticker on the side of it.

Even if you changed to RTX 3060 . . . a 460 watt PSU would be at the very bottom end of capabilities. There are actually not that many cables to change with a PSU swap, and they are hard to mess up because each type of connector is different, so it won't plug in to the wrong place. Think the project through and consider to the advice of others.

I don't play video games, so I'm not familiar with the FPS metric; but bottleneck not withstanding, @ 1080P . . . isn't 166.3 FPS almost a 50% improvement over 114 FPS? Wouldn't that make a better gaming experience?

@ks_ 

The way I see it ...

Average 4K Performance 49.7 FPS

Yeah, you would have to be running at 4K res, to fall below 60-FPS, which if using a normal LCD monitor, is your limit anyway. 

GTX-1080 is still viable ... especially at 1080p . I'm running a GTX-1070 on a Intel-i7 Aurora-R6 @ 1200p and Fallout-76 plays just fine.

a more modern powerful gpu of 3000 series will undoubtedly raise gpu temp in R7 case given its cramped inside and poor air flow.  moving to a new good air flow case or available old high air flow case is worth considering.

here is average benchmark of your current setup

and here is the upgrade you r thinking about

Cpu bottleneck of gpu at 10% is technically considered borderline.  Another website said less than 10% is considered no bottleneck.  Ideally a perfect match is 0-1% by bottleneck calculator of variable repute.  
Agree w tesla that 4k may need a faster gpu: compared to 1080p, 4k is more gpu dependent because there are more pixels to be pushed out by gpu.  OP has not disclosed his/her resolution.  It looks like overall 3070 improves fps by 50% across the board.  Just for comparison

Also, 4k fps will improve if OP can lower current setup settings to high instead of ultra.

Yes, but due to the CPU bottleneck you could get those same performance numbers from a 3060.

So to me a better pairing with that CPU would be a 3060, which also requires less power, generates less heat and is cheaper.