650w is definately pushing it. I have a 3080fe on a 650W Seasonic SFXL PSU and the PSU was on the verge of failing if I didnt undervolt the GPU. The GPU was trying to pull 300W-ish at stock and was making my PSU squeal and the RDR2 benchmark stutter, I undervolted the 3080fe and all is well. The rest of my system is pretty low power draw though, CPU is a 5600x only pulling around 65W.
Unfortunately this makes no sense.
Power is drawn. The GPU will pull the amount of power it wants to draw. Either the PSU can supply that power.... or it cant. And if it cant, OCP trips and the PSU shutsdown.
It cant communicate back to the GPU "hold up there, I can only give you 290W"
So if you where not having shutdowns stock, the PSU was technically able to satisfy the GPUs power draw requirements.
I have never heard a PSU squeal due to load. However coil-whine and coil-squeal are extremely common from FE cards. And funny enough one of the best 'fixes' to help with that is to undervolt the GPU.
So in a round about way, from what you have described it sounds like your PSU was perfectly fine to supply the power the 3080fe needs at stock. Undervolting got rid or improved your coil-whine.