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Quick Answer
No, you do not need to upgrade from PCIe 3.0 to 4.0 for gaming. Current GPUs including the RTX 4070 and 4080 show less than 2% performance difference between PCIe 3.0 x16 and PCIe 4.0 x16. Only the RTX 4090 at 1080p shows a measurable gap.
PCIe 3.0 x16 provides enough bandwidth for every current GPU except the 4090 at very high frame rates.
This is where PCIe generations matter more. PCIe 3.0 NVMe SSDs max out at ~3,500 MB/s. PCIe 4.0 SSDs reach 7,000+ MB/s. However, for gaming, the practical difference in load times is 1-3 seconds. The real benefit is for content creation file transfers.
Our Verdict
PCIe 3.0 is fine for current gaming GPUs. Do not upgrade your platform solely for PCIe 4.0 - the gaming difference is negligible. Only consider it when upgrading your entire platform for other reasons.