You could probably build as is.
But I would change a few things:
1. A single ram stick will run in slower single channel mode.
Do not think you can add another later, it will not be supported; ram must be matched in a kit.
I suggest you up your budget and buy a 2 x 8gb kit up front.
Also, ryzen is picky with ram. Verify compatibility; check the motherboard ram QVL list or the ram vendors support list.
2.
I will never again build without a ssd for the "C" drive. It makes everything you do much quicker.
120gb is minimum, it will hold the os and a handful of games.
But, many things default to the "C" drive.
When a SSD nears full, it will lose performance and endurance.
240gb is the recommended minimum.
If you can go 240gb, or 500gb you may never need a hard drive.
You can defer on the hard drive unless you need to store large files such as video's.
It is easy to add a hard drive later.
Samsung EVO is a good choice for performance and reliability.
3. Coolermaster PSU quality is iffy. 550w is fine. Look for the Seasonic focus line.
4. I would avoid a liquid cooler if you do not need it.
scythe kotetsu will be quieter and cheaper and still do the job.
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Just my opinion:
For your type of games, I would favor a intel 8th gen processor which has some 20% better performance per thread.
Ryzen is good for multithreaded apps, but only so so for games.
Most games will effectively only use 2-3 threads, not the 12 threads the 1600x has.
I would pick a slightly more expensive Intel I5-8600K with 6 fast threads.
Most any Z370 motherboard will do.
My canned rant on liquid cooling:
------------------------start of rant-------------------
You buy a liquid cooler to be able to extract an extra multiplier or two out of your OC.
How much do you really need?
I do not much like all in one liquid coolers when a good air cooler like a Noctua or phanteks can do the job just as well.
A liquid cooler will be expensive, noisy, less reliable, and will not cool any better
in a well ventilated case.
Liquid cooling is really air cooling, it just puts the heat exchange in a different place.
The orientation of the radiator will cause a problem.
If you orient it to take in cool air from the outside, you will cool the cpu better, but the hot air then circulates inside the case heating up the graphics card and motherboard.
If you orient it to exhaust(which I think is better) , then your cpu cooling will be less effective because it uses pre heated case air.
Past that, A AIO radiator complicates creating a positive pressure filtered cooling setup which can keep your parts clean.
And... I have read too many tales of woe when a liquid cooler leaks.
Google for AIO leaks to see what can happen.
While unlikely, leaks do happen.
I would support an AIO cooler primarily in a space restricted case.
If one puts looks over function, that is a personal thing; not for me though.
-----------------------end of rant--------------------------
Your pc will be quieter, more reliable, and will be cooled equally well with a decent air cooler.
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