The more you look at it, the less complicated it'll be.
LLC is your friend. MsI is backwards from Asus. So lvl 8 is more droop than level 1. Try maybe level 6 to start.
I use a program called QuickCPU. this program will clear memory and let you adjust the core parking on the fly. Other adjustments for tweaking as well and also control power settings. Turning Core parking off, set to 100% will help lower some latency.
Like I was saying, turn off c-states and monitor your v-core and temps. Don't worry about the VID much, just the v-core.
C-State is good to keep here, OP wants to use less power.
C-State is a bad feature for badly coded games or softwares, that's just it, it's just bad for bad programs xD I said it. o_o
MSI is not backwards from ASUS Oo
Why do you use core parking if you disable C-States ? Either you want the 2 enabled or the 2 disabled, it makes no sense to disable 1 to let another one enabled. You want C-State disabled to have less latency when cores work, if you park your cores (sometimes but then, why ?), you will have a huge latency oO
OP wants to use less power, lowering the Vdrop is not the best option I think. The maximum Vdrop is the best option.
To undervolt or overclock on the z690 you have to painfully use the CPU Core Voltage mode : Adaptative + Offset
You guess the voltage you can get playing with the "-" symbol, starting from 0.050 or 0.080 (it should be good), higher the number until Cinebench crashes, if it crashes you higher the voltage (lower the value under the "-" symbol like if you were at - 0.080, then try 0.060 and retry the bench/game/anything you do with your computer).
THEN you play the most hateful game : Long Duration Power Limit & Short Duration Power Limit game...yeah you got this, it sucks, you have to guess what is the maximum wattage you can put to still get the maximum core multiplier (47 to 50 [on 2 cores] by default on the 12700k).
You can try to put the Long Duration Power Limit and the Short Duragion Power Limit to 150W and see with HWinfo if your cores still go to their maximum set while you use your computer.
Then, does your cinebench score sucks or is it good as if everything is by default ? You have to check. if your score is bad, you have to higher your maximum Long and Short duration power limit. If it crashes, you have to higher your Vcore (lol) so...yeah it sucks you have to lower your value under "-".
Your cores should go to x49, 2 of them should go to a maximum of x50 and while you use all of them on the same task, x47 by default.
But if your bench scores suck you have to either higher the Wattage of the Turbo or the Vcore (lowering the value under "-" in adaptative+offset).
After that, you can higher your Ring ratio to 38 without having to worry about your voltage, if you aren't unlucky. Maybe 40+, who knows.
