https://www.anandtech.com/show/15043/the-amd-ryzen-9-3950x-review-16-cores-on-7nm-with-pcie-40/2
Despite this being a 105 W TDP chip, the cores at full load saw 122 W peak, with the rest of the chip getting ~24 W, making for an overall 146 W power draw (as measured by the processor internally). PPT for this chip is meant to be 142W.
This shows that Zen 2 has a different strategy to the previous Zen chips when it comes to how AMD is mixing the difference between TDP and PPT. If we saw the same thing with the Ryzen 9 3950X, then it pretty much confirms the hypothesis.