Kernel 5.17 brought the new AMD P-State performance scaling driver, it is possible to force enable it for now to test before it is polished and enabled by default.
In UEFI Settings go to CPU -> Advanced -> CPPC: Enabled
In the GRUB config /etc/default/grub add the parameters
GRUB_CMDLINE_LINUX_DEFAULT="quiet splash amd_pstate.enable=1 amd_pstate.shared_mem=1"
//EDIT: recent changes require now
GRUB_CMDLINE_LINUX_DEFAULT="quiet splash amd_pstate=passive amd_pstate.shared_mem=1"
Add to the blacklist /etc/modprobe.d/my_blacklist.conf the acpi-cpufreq module
blacklist acpi-cpufreq
And rebuild images and grub config
sudo mkinitcpio -P
sudo update-grub
If everything worked, the amd-pstate driver should be used on next boot
$ sudo cpupower frequency-info
analyzing CPU 0:
driver: amd-pstate
CPUs which run at the same hardware frequency: 0
CPUs which need to have their frequency coordinated by software: 0
maximum transition latency: 131 us
hardware limits: 550 MHz - 4.21 GHz
available cpufreq governors: conservative ondemand userspace powersave performance schedutil
current policy: frequency should be within 550 MHz and 4.21 GHz.
The governor "schedutil" may decide which speed to use
within this range.
current CPU frequency: Unable to call hardware
current CPU frequency: 1.22 GHz (asserted by call to kernel)
boost state support:
Supported: yes
Active: yes
Boost States: 0
Total States: 3
Pstate-P0: 3600MHz
Pstate-P1: 2800MHz
Pstate-P2: 2200MHz