Is 12gb vram enough for 3440x1440p resolution?

I know this isn't technically a question about monitors but since many people in this sub are using that specific resolution I thought I'd ask here.

Basically I'm planning a GPU upgrade once I get a new monitor (LG 39" OLED) and if I want to go with a 16gb my options are limited to either +1000€ 5070ti (I doubt I'll get one at MSRP after taxes) or AMD's 9070 XT (or an older card used).

I'm currently rocking a 2070S with 8gb VRAM and I was just wondering if there's any sense at all in getting a 12gb card at the moment. I'm planning to play new AAA games and would love to see a bit of the eyecandy /w the OLED but on the other hand I don't mind tweaking the settings a little or use DLSS. Would 12gb carry me through these games at that resolution or should I just save up for a 16gb card?

Edit. Thank you everyone for your replies. They've been helpful and given me good insight for the eventual GPU upgrade.