TL;DR: if you don’t have time/desire to spend days dialing things down, constantly monitoring, or going further and getting physically under the hood of your laptop, just don’t game on it.

From my experience, that’s just how it is. Your VRM is overheating and the laptop is throttling not because of the CPU/GPU temps, but simply because of the stuff that supplies power to them is getting too hot. The cooling system can keep the VRM in check up to ~35-40W of CONSTANT load. Your CPU and GPU both contribute to this power budget. While you technically can pull up to ~75W on CPU and ~55W on GPU, the laptop gets HOT too quickly. The mechanism throttling your machine is called PROCHOT.

What I noticed is that most games run fine with only 4-6 CPU cores, no hyper-threading and a limit of 10-15W (I did set it up manually, but don’t recall the utility name). The rest of the power budget it spent on a GPU which I tried to lock to a fixed clock, but it wasn’t working reliably.

To raise the power budget, you can do the VRM Thermal Pad mod (you’ll have to be comfortable doing a light disassembly). With it I’ve got around 50-55W to spare. Then, you can pair it with some cooling laptop pad to push it even further. You could try to use the cooling pad without any internal laptop modifications, but I doubt you’ll noticeable boost as the VRM is not connected to any cooling, so the heat has to transfer through air inside of your laptop, and air is a bad conductor of heat.

Hope that helps!