@sns I have most of the parts list compiled. Like I said I'm still determining the OS and power supply. The hardware aspect is simple, basically a standard PC build. The software is more advanced. Audiolinux is based on Arch Linux which requires a bit of manual setup. Euphony is more turn-key, but also more expensive.
Processor will be an AMD Ryzen 5 5600X. A fanless case that cools the CPU passively limits the choice of processor. No fans to move air so we're relying on a heatsink. The 5600X is rated at 65W TDP, while comparable Intel processors are 105-125W TDP. AMD has a big advantage over Intel in efficiency. Running the more demanding noise shaping filters in HQPlayer requires high base clock frequency and large L3 cache. The 5600X does well in both areas. If you don't plan to use upsampling/DSP, an even less powerful processor can be used.
Motherboard will probably be an MSI B550M Mortar. I am going with micro-ATX because the case I intend to use is too small for full ATX. No worries here, as micro-ATX offers all the features I need. This MSI board has great VRM performance. If you want the most advanced VRM look into the Gigabyte B550 Aorus Master, or X570S Aorus Master. They have 16-phase design. Both are full ATX, so the appropriate case is needed. All these boards are designed to accept AMD processors, so if you intend to use an Intel processor you need to research boards for that application.
One of the most expensive and highly regarded servers is the Taiko SGM Extreme. It uses an Asus WS C621E Sage motherboard with dual Intel Xeon Silver processors, industrial grade RAM, custom internal LPS, all passively cooled. There is a huge thread over at Audiophilestyle dedicated to building a DIY version of it. Cost can get extremely high depending on the hardware you use.