Correct, the limits are increased...but the CPU will never actually draw into those increased limits.
The stock AMD PPT is 142W. With a 12 Core Cinebench R20 run 100% of the 142w is consumed.
With the limits increased to 284W the same 12 Core Cinebench R20 run will consume 50% of the limit. Guess what 50% of 284w is? Yup...142W.
With my PPT set to 1200W guess what the usage is....12% (144w)
So disabled pbo (in the first column, under pbo settings). Only left enabled with manual x10 in xfr settings ( which bizarrely called pbo too ), left it on auto in 3rd column and it doesn't want to go higher than stock now. Yeap, nothing confusing about that: you got pbo setting in 3 different places in the bios, all of them called pbo. Those amd engineers are proper nerds it must clear as day for them, only confusing to us .