For the 7700k and overclocking I'd personally go with a better cooler than a 212 evo. Prime 95 version 26.6 small fft's is an ok test to run, it does push the cpu a bit harder than 'typical' programs like games but that's sort of the point. You want to see that the cooling can keep up in a worst case scenario rather than worry when you go from light activities like web browsing to hours of video encoding that the cpu may overheat then.
Hard to recommend a cooler without knowing the budget and what's available. Cryorig makes some solid coolers with the h7 and h5 universal but they're not always available in all parts of the world. The scythe mugen 5 would be a good option, so would the cryorig r1 universal. Larger coolers require wider cases though, no guarantee that any cooler will fit an unknown case.
The 212 evo is fine for stock cooling most likely, for overclocking on a high clocked i7 as well as overclocking it? It depends how far you overclock. I've got a 4th gen i5 4690k that won't likely reach the overclocks I've got on it with a 212 evo, much less an i7. Hyper threading tends to cause higher temps, it keeps the cores busier than an i5 without ht.
The i5 I have with a 212 evo only has a mild overclock. It's an ok low budget cooler, does well for what it is. It only has a single fan and 4 heat pipes with a tdp rating suggesting 180w max of heat. Compared to a larger air cooler like a dark rock pro 3 that has more cooling fins, two fans, 7 heat pipes and a tdp rating of 250w. Big difference and much higher heat dissipation for higher overclocks.