https://bugzilla.kernel.org/show_bug.cgi?id=176341
To summarize:
When writing to /sys/class/drm/card0/pp_table, clocks are applied correctly, the TDP/TDC/Max Power Delivery Limit is applied, but voltages are not.
If they've modified in the VBIOS, they are applied.
dri-devel@lists.freedesktop.org