Is my CPU to low?

I hope this is the right area to make this post. So i have been having MAJOR lag entering worlds with people in them. Like im skipping around, its not fluid etc… I upgraded my graphics card from a 1070 to a 3070 now hoping that would help. It does make the worlds look more crisp but sadlyu still alot of lag issues. I am running a i7-8700k clocked at 4.7GHz. My friend who is on here all the time nad in big worlds has no issues and is only running a i7-9700k. I know the kind of upgrade is small. I feel like my CPU should be fine and there are issues somewhere But I don’t know what else I can do to help with the lag I am getting. Any advice would be appreciated.