I see that there are mixed answers here. My answer is somewhat different. It is a conditional “yes” but only because whether you are using a current intel Xeon or a current i7 doesn’t matter for purposes of gaming. The differences you will see will be minute.
CPUs from 8 years ago will still run any game out there provided you have a good video card, fast storage, and decent RAM. For example, I recently upgraded my i7 950 system. That CPU was released in 2009. With it, I also had 24GB of RAM, an SSD, and a current video card. There was no game I tried that could not run at maximum settings with that setup. I upgraded to a current CPU with more, faster RAM and a far faster drive. I noticed no difference in performance at all when it came to games.
So the point is, all other things being equal, the difference in gaming performance is so minimal as to be unnoticeable. That said, current Xeons are generally more expensive and you won’t notice much in the way of a performance boost over other CPUs of that same generation.