So; after wondering whether to go for a 2020 21.5" iMac over a 27" 5k 2019 iMac; I did the right thing (IMO) and bought the 27" iMac with the 5k display 🙂
Yes it's got the 1TB FusionDrive but TBH it's performing superbly for me as I'm really just a standard user (so MS Outlook, Word, Excel and Adobe PDF; iTunes/TV and Chrome & Safari browsers etc)
I've fitted an extra 16GB Crucial RAM; so it's now running 24GB RAM and I may look to run an external 256GB SSD as the boot drive, if I feel I need this; but for now, it's running superbly and isn't slow in any way
Quick pic of my set-up:

Yes it's got the 1TB FusionDrive but TBH it's performing superbly for me as I'm really just a standard user (so MS Outlook, Word, Excel and Adobe PDF; iTunes/TV and Chrome & Safari browsers etc)
I've fitted an extra 16GB Crucial RAM; so it's now running 24GB RAM and I may look to run an external 256GB SSD as the boot drive, if I feel I need this; but for now, it's running superbly and isn't slow in any way
Quick pic of my set-up:

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