Intel's rated TDP doesn't apply to boost clocks. So if you're running a serious load and want your 9900KS to run at 5GHz, you'll need more than 127W worth of cooling capability.Yes and that point is at 127W TDP.
That's the amount of heat you have to dissipate to do some non-extreme workload at normal ambient temps.
Even if the power draw is 200W or even higher,you only need to cool 127W of it to remain above the throttle temp.
If the CPU is drawing 200W of power and you're only dissipating 127W it's going to overheat and throttle, full stop. Doesn't matter what TDP number Intel put in the spec sheet.