I don't know what kind of server you're running, but if you plan to host any video then you want a dedicated GPU or a cpu with integrated graphics (and even if you're not, I think it's a good idea anyway), which the 5600x doesn't.
I also think it's overboard to get $90 watercooling. Just get an air cooler for half or a third of the price
Dedicated GPUs are obviously going to be more powerful. I've never run ai before so maybe someone else can weigh in on the requirements for it, but I can say for sure that an igpu is good enough for jellyfin transcoding. It also depends on your budget, do you want to spend the extra money just for a dedicated GPU?
If you go igpu route I think that Intel is recommended over AMD, but you should probably do extra research on that before buying