Unfortunately RISC V is decades away from getting anywhere close to Intel's x86 business, if ever. Currently it's nibbling away at the toes of the low end of the ARM market.
Even getting up to the level of competing with the mid ARM market will take huge investment. That is of course possible, but to do it RISC V will need to be backed by a very well funded body along the lines of the Linux Foundation, with strong support from big industry players. The sort of support that ARM already has. Until and unless that happens, I'm afraid it will stay a niche low end option.
It only took ARM licensees about 5 years (2013-2018) to come up with competitive 64 bit chips like the (now sadly cancelled) Qualcomm Amberwing and Cavium ThunderX2. These chips are every bit as capable as Xeon. The decode stage is not a large part of any microarchitecture.
Even getting up to the level of competing with the mid ARM market will take huge investment. That is of course possible, but to do it RISC V will need to be backed by a very well funded body along the lines of the Linux Foundation, with strong support from big industry players. The sort of support that ARM already has. Until and unless that happens, I'm afraid it will stay a niche low end option.