Is it bad? No, it's within the cpu's specs. They're designed to give you max performance, even IF the cpu was running at 98C - personal comfort zones aside.
Is it normal? Probably not, but there's not that much info to go on either.
I know those Kraken M22s have a reliability problem, but it could also be that bios, power plan, and game settings are overall too aggressive and cause those spikes in heavy scenes.
120mm AIO is kinda small for that cpu under the right conditions.
As said, not much to go on, like:
-how long that cooler's been in use. M22 seems to throw in the towel within a year. The design and size also makes it difficult to control where the air pockets settle.
-airflow setup. Fans aren't blowing against each other, nor are being choked by solid panels.
-high performance power plans and higher refresh rates cause the cpu to use more energy. The menu in that game may be capped at a lower framerate than in game - because who needs 300+fps in a menu, right?