Agree its very tough to stay under 700. Maybe something like this? Potentially switch for Why_Me's motherboard choice as its better but wasnt in Partpicker.
PCPartPicker Part List
CPU: Intel Core i3-12100F 3.3 GHz Quad-Core Processor (€114.88 @ Amazon Netherlands)
Motherboard: Gigabyte B660 DS3H DDR4 ATX LGA1700 Motherboard (€140.99 @ Azerty)
Memory: Corsair Vengeance LPX 16 GB (2 x 8 GB) DDR4-3200 CL16 Memory (€64.90 @ Amazon Netherlands)
Storage: Crucial P2 1 TB M.2-2280 NVME Solid State Drive (€83.85 @ Amazon Netherlands)
Video Card: Gigabyte GeForce GTX 1650 G5 4 GB WINDFORCE OC Video Card (€269.00 @ Azerty)
Case: Deepcool MATREXX 55 MESH ATX Mid Tower Case (€45.85 @ Megekko)
Power Supply: Corsair CXM 550 W 80+ Bronze Certified Semi-modular ATX Power Supply (€53.85 @ Megekko)
Total: €773.32
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2022-03-03 15:20 CET+0100
I picked this GPU model out of the available ones at the same price mainly because it has 2 HDMI outputs as required. The G6 versions of the GTX 1650 around the same price are slightly faster but dont have any HDMI.
The I3 12100F is not
that far behind an I5 on average still, sacrifices have to be made to keep prices down. Case is a placeholder, doesnt look awful but might be something better, I dont know a lot about lower priced cases unfortunately. Youll need fans might be worth grabbing something with a couple pre installed.
Something to think about.