Yeah I'm only assuming here for Ryzen as there's no official details on it, but from reading up on Carrizo,Br a long time ago I read up on how avfs works. The firmware uses a set of Avfs Modules to monitor voltage, Vid, temp, core load and frequency etc, from the telemetry it receives from the embedded sensors, tt can adjust the vid to each specific Die characteristic (ie leaky die/ more efficient die) so for a decent die it will use less voltage and hold boost for longer, dependent on the sensory factors.Whilst the shadow p-state theory does make sense, I've heard it's even more elementary than that - controlled via the given application. It would tie in with the granular clock adjustments that shadow p-states allows, though.
So yeah I can imagine that with Ryzen they have a similar setup but it also has the added ability to apply an offset mulitiplier over the precision boost multiplier, which is constantly adjusting depending on sensory limits.