Some BIOS will let you set power limits above 100%. The point is the card is being artificially throttled to 450W. It can draw more power, and average power doesn't take into account any spikes that may occur, as we have seen with GPUs in the past.That's a 4090 that's had its BIOS flashed to one with a 500W power limit -- standard 4090s are capped at 450W, before throttling kicks in. TechPowerUp's power analysis of the Founders Edition version shows how such a card behaves.
No question that series 40 is more power efficient than series 30, but power requirements are increasing at the GPU, CPU and system level. Less than 5 yrs ago I was running a 450W power supply for a top-end system. Now I'm looking at a minimum 750 and a 1000W to ensure I have enough for the next-gen devices. Since the 16 Series, released in 2019, we have seen high-end GPU power go from 120W to 450W. That's nearly a quadruple increase in power consumption and we've seen almost exactly a quadruple in performance. So, it doesn't seem that efficiency has really improved that much.The 3090 Ti has a 450W TDP so the jump isn't a large as it might seem at face value.
1660Ti versus 4090
Average 1080p Performance
Average 1440p Performance
(Ultrawide) Average 1440p Performance
Average 4K Performance