Perhaps get the monitor upgrade and wait to see if there's a decent sale on Mac Mini or home equipment stipend? Many of my team mates in WFH mode have chosen to upgrade ergo gear like chair or standing desk followed by network gear. Not that many have chosen to upgrade their work or home computers, though that's possibly influenced by kids remote-school tech gear costs and upcoming PS5 release.

My 27" iMac which was used as a target display (pre-retina) was ghosting quite a bit so I went to an i5 Mac mini for home use and Dell 27" 4K monitor which switches over to work laptop via usb-c displayport. Self upgraded the ram on the mac mini to 32GB and also stalked inventory trackers for a brand name webcam. I'm looking at getting a USB audio receiver Topping MX3 or perhaps active bookshelf usb speakers and usb switch for audio so the software volume control works. My tech refresh is around $2,400 so far including the splurge targets of a nice monitor arm and MSRP (but not former pre-COVID price) high end web cam.

ETA: Also recently bought a usb-c to DP cable because I was tired of having to reset NVRAM after encountering "No Signal" after booting up the mac mini with HDMI mac mini out to HDMI monitor https://discussions.apple.com/thread/250715830 as recently as last month.