Strength is typically not a great stat to put your starting stats into. The exception is if you plan on doing a solo self found character, or if it is your very first character.
https://youtu.be/71aYAD9aB5A?si=ePJ1Qd8Mhh1X-ICI - I have a youtube series leveling a Ranger up to 22 or so.
20 STR will not be a noticeable improvement in your DPS in the lower levels. The math easily shows this. The calculation looks like this: ((STR * 2) - 150) / 3.
At 100 STR: ((100 * 2) - 150) / 3 = 16.667
At 120 STR: ((120 * 2) - 150) / 3 = 30.0
At 140 STR: ((140 * 2) - 150) / 3 = 43.33
You gain the equivalent of ~13 Worn ATK per 20 STR. When you get to the endgame, that honestly isn't a bad deal. But by endgame you are more likely to cap STR anyway. In the low levels you aren't going to see much difference DPS-wise. Everquest is a game where stats work best in the endgame, which is why planning for the endgame in your stat selection makes the most sense.
As for carry capacity, I have like ~140 STR with EC gear and only one Sharalok pack. I was able to loot everything I wanted without being super overweight. It just takes a bit of game knowledge to know what is worth picking up.
STR and DEX are easily capped at the endgame. The two stats that are hardest to cap are STA and WIS. You can choose either one, depending on what outcome you eventually want. Putting points into STA may allow you to eventually cap STA without Riotous Health, saving you a buff slot. Putting points into WIS is a good too, as you will probably never cap WIS.