The NH-D14 is and older cooler by Noctua that has been succeeded by the NH-D15. Both coolers are basically the pinnacle of air cooling and do offer equal or better performance than most AIO water coolers. There are some AIOs that can slightly outperform the high end air options, these have 280mm or 360mm radiators, eg. NZXT Kraken X62. Generally if you want cooling performance significantly better than air, you still have to go with a custom loop and some rather large radiators.
In any case, 4.8GHz should be achievable with a decent air cooler unless you really lose out on the silicon lottery. The 8700k does run quite hot once you start pushing the vcore past 1.3V. This isn't necessarily because of the CPU cooler but more due to the TIM and poor seal between the heatspreader and the CPU die. This is why delidding is a popular practice as it can significantly reduce core temperatures pretty much regardless of what cooler you have, and is pretty much necessary if you want to try to push an overclock and Coffee Lake's 1.4V vcore safe limit.
Unless you really lose out on the silicon lottery you should hopefully be able to achieve 4.8GHz without needing to push as high as 1.35-1.4V, and thus shouldn't need to delid and you should be able to keep temps under control with a decent air cooler or AIO.