Grey beard here.
Initially PCs had fixed clocks or fixed multipliers of the Front Side bus (memory bus).
Manufacturers couldn't predict what cooler you were running, what power supply or motherboard or what work loads, so they clocked the chip to be bullet proof and avoid RMIs.
With the right process and knowledge you could significantly increase those clocks. Things were simple. Single clock (FSB) and for the most part a minimum of a single instruction per cycle.
Things started to get complex when DX chips started running internal CPU instructions on the rising and falling edge of the 33Mhz clock of the day.
By the time we got to Pentium/Pentium2 things had started to change, with processor pipelining coming of age they could sometimes do 4 different instructions simultaneously.
While there were other bus clocks added so that memory could run at different rates to the main CPU, it was still fairly easy adjust clocks and voltage until it didn't crash.
Intel introduced dynamic clocking around the Celeron days. Which is a rather tame way would drop and raise clocks between idle and intense workloads. Still they could be overclocked.
Today however advancing up to current day the likes of the 5800X is already overclocking itself hundreds of times a second, running those same processes you used to do taking hours of balancing frequencies to voltage to get stability. It's already doing that at light speed. It's all about boost clocks. The chips, CPU and GPUs are self-overclocking using the concept of a boost clock. The chip senses within itself what frequency to set cores to above their base clock based on things like power, temperature, voltage and load type.
Mostly the overclocking on these is rather sending limitations and "hints" to these automatic routines to make them more or less aggreesive.
The real fiddling has moved to undervolting. To get more 'clocks' for your Watt and get more performance under the thermal and/or power limiters.
The only advice I'd give if you are just starting out with overclocking usig 2020+ era chips. I'd say, Dont. Start with upgrading your cooling. When you upgrade the cooling the chip WILL clock itself up without you doing anything. Only when you have spent all you want to spend on cooling should you consider anything but a minimal tune (like enabling Precision boost) which you should kinda do anyway, It's just a toggle switch... and a memory profile that matches what you bought!