Intel Xeon E5-2697 v3 is processor manufactured by Intel and launched in Q2 2014 . It's using LGA2011-v3 socket. It has 14 cores and 28 threads with clock of 2.6 GHz that can turbo clock itself to 3.6 GHz . This processor is used in Server devices and can consume up to 145 watts of power .
NVIDIA GeForce GTX TITAN Black is graphic card manufactured by NVIDIA and launched in Q1 2014 . It's using PCIe 3.0 x16 bus type. It has core clock of 889 MHz and 6144 MB (6GB) of memory . It supports DirectX 11 and OpenGL 4.5 . This graphic card is used in Desktop devices and can consume up to 250 watts of power .
This configuration has 0.2% of graphic card bottleneck . Everything less than 5% should not be concerned major bottleneck.
Graphic card bottleneck is better, than processor bottleneck, because utilization of your graphic card will be on maximum and you will experience maximal performances that your graphic card offers. Also your processor can handle some other programs in background because it won't be maximally utilized.
You can resolve this by upgrading your graphic card or by downgrading your processor. Downgrading your processor doesn't make much sense and in that case is better to leave current processor in you computer, because you can run more background task that won't interupt your gaming experience.