What kind of imprint was on the die and block face when you took the block off? Did it seem like there was good pressure and a good amount of tim on the hbm and die?
Did you reapply with arctic silver again or you try an alternative thermal paste? Does the die have resin inbetween the die and hbm or is there a channel?
I'm thinking a few things here, to check
The block surface isn't true or that the gpu package has an uneven height, also possible that the block isn't touching the vrm mosfets properly?
There's not enough thermal compound or you need to change to a different thermal paste, or that the block pump/line/rad has a flowrate issue, or that the pump voltage isn't high enough, have you checked the temp of the coolant in the radiator during testing??
How good is your psu, what make and model and are you you connecting it via 2x separate 8pin power cables?
Here was my reference v64 when I took the heatsink off the thermal paste was dry and causing me problems.