Worth upgrading my iMac?

After upgrading my camera to a Panasonic CX-350 which records larger video clips, editing those files on an old iMac is testing my patience.  The ancient iMac is a mid-2011 model; 3.8 GHz i7 CPU, 24 GBs of memory and integrated AMD Radeon HD 6970M 2048 MB GPU.  Editing, especially rendering, is painfully slow. 

Here's my question.  Would it be noticeably faster by upgrading to a 2019 iMac with an i9 CPU and robust graphics card? 

Many thanks.

Unless you're getting a heavily discounted used price on the 2019 iMac, you'll get more bang for your buck getting Apple Silicon.

I wouldn't spend money on a computer you may need to upgrade with a shorter lifespan than a Silicon Mac.

Just make sure all your plugins and other software is M1 compatible. On the other hand, used is cheaper, and a 2019 will be much more powerful than what you have, and still a good investment.