I think you can hold off and continue using your current PC. However, if you're looking to do something now, then I recommend upgrading everything (CPU, motherboard, RAM, GPU). This is going to cost you a lot more than $600.
Intel CPUs came out with their new 12th gen. But I'm not a fan of it because they suck up so much power and give off too much heat, especially those higher core CPUs (i7 and i9).
AMD CPUs are nearing it's end of life platform. More specifically the socket (AM4) is ending. The AM4 socket accommodated a fair number of previous generation AMD CPUs (whereas Intel sockets typically last two generations).
If you want to upgrade now, go with Intel. If you can wait, wait to see what AMD comes out with. Or you can upgrade now to current generation AMD Ryzen.