There is no indications from MSI Support about your X370 Motherboard supporting the 5000 Series Processors.
I would just open a MSI Support ticket and just ask them directly if they are planning on having a BIOS update to support the Vermeer Processors.
Truthfully, I would upgrade your 1600x to a 3000 Series (Matisse) processor and purchase new Ram if the current RAM is not compatible with the Matisse processor you are planning on buying.
From what I read it seems like only ASRock has a Alpha or BETA BIOS update to support their 300 series Taichi Motherboards but AMD will not update the 300 Chipset for the new processors: https://www.notebookcheck.net/AMD-Ryzen-5000-Vermeer-processors-are-now-functional-on-X370-chipset-m...
"So far, the P6.61 BIOS has been shown working on an X370 Taichi motherboard with a Ryzen 5 5600X processor. When we say working, we mean that Vermeer processors can boot to BIOS on ASRock X370 motherboards; there is no evidence of how stably the P6.61 BIOS behaves when Windows is loaded.
JZelectronic has not explained what Ryzen 5000 features the P6.61 BIOS brings to X370 motherboards, nor will AMD or ASRock comment on the matter. According to Tom's Hardware, AMD stated the following when asked about bringing Ryzen 5000 support to 300-series motherboards:
AMD has no plans to enable or support AMD Ryzen 5000 series on AMD 300 series chipsets."