Is my 2011 iMac suitable for Roon?

Why not just get a NUC and run ROCK, put the unit on your network out of the way, and use the iMac as a Roon Remote.
According to other forum members there are SQ improvements when they moved from Roon Core on an iMac to a dedicated server.
See FS: NUC5 based ROCK server for a ready built ROCK solution.