Nvidia dynamic boost (nvidia-powerd) gives only +5w boost above default power limit (80W), 4070 laptop

The nvidia-powerd service is enabled. Running on performance mode tested on Fedora, pop os, cachyos. The Laptop is Victus By HP 16-s0009nv with 4070 gpu. Dynamic boost barely does anything, goes from 80w only up to 85w. Is this normal behavior? Windows often draws 90-110w on games which results in better performance. Power limit cannot be changed manually based on what I tried. Laptop has a mux switch and only the discrete gpu is enabled.

On some laptops it is required to change platform power profile to performance mode. KDE allows that, pretty sure other DEs too (assuming you have tuned with ppd ot at least power-profiles-daemon running). You can also do this via command line:
Check available profiles: cat /sys/firmware/acpi/platform_profile_choices
Check current profile: cat /sys/firmware/acpi/platform_profile
To change profile write it’s name (which one from the first command) to /sys/firmware/acpi/platform_profile as root.

These files don’t exist on my fedora or cachyos (both KDE)

Curiously, unplugging the laptop and plugging it back in will increase this limit by another 5w up to 90w until next reboot.

throughput-performance is tuned profile name. If you look into it’s config in acpi section, you’ll see that tuned tries to apply platform power profile called ‘performance’ assuming it’s available. Maybe driver for your laptop exposes power profiles differently for user. Try checking bios settings, default power profile settings may be there.