I had a worse AIO than you and my 12900K at 300W managed to just hit 100°C.
Your cooler is not doing its job.
First of all, use good thermal paste like Kryonaut or Thermalright TFX, and use a Thermalright LGA 1700 contact frame.
Second of all, ensure your AIO works and double check all connections.
Third of all, use HWiNFO64.
I had a worse AIO than you and my 12900K at 300W managed to just hit 100°C.
Your cooler is not doing its job.
First of all, use good thermal paste like Kryonaut or Thermalright TFX, and use a Thermalright LGA 1700 contact frame.
Second of all, ensure your AIO works and double check all connections.
Third of all, use HWiNFO64.