Short answer: No harm in 42-44x. Just do it. Your other option is to buy a new CPU+mobo+RAM.
Long answer:
Stock speed = the frequency Intel intends the chip to run. This is determined by a few factors. Intel (in this case) needs to be able to guarantee that ALL 3770Ks will run at the frequency they specify on the spec sheet (AMD has muddied these waters lately, but that's for another discussion) and that all chips will last for a set duration to satisfy warranty terms and general longevity expectations from the public. Intel and AMD offer 3 year warranties on their chips (when operated at stock speeds) currently. But if most chips ended up dying at year 4, that would be VERY bad in the public eye. Furthermore, Intel knows what they're doing when they offer K series (overclockable) SKUs for i3, i5, i7, i9 families.
The standard deviation on the given process node of a chip will determine this largely. Intel has various SKUs with varying frequencies that they can drop lower performing silicon into, but at the end of the day, they need to produce a certain quantity of chips (based on demand) that will run at a given frequency. There are even max frequency variances amongst individual cores on a given chip. AMD and Intel have been taking advantage of this lately in their push to squeeze every last drop of performance out of their chips in stock behavior.
The stock frequency is also determined based on power consumption. Silicon may be able to hit 7GHz on all cores, but would output so much heat that the common consumer wouldn't own/buy a heatsink capable enough to cool it. Most would say that Intel is pushing this limit with their 9th and 10th gen i9 CPUs.
Historically speaking, older chips generally have more overclocking headroom that newer ones. Go back far enough in time, and a 2x frequency increase was possible. Ivy Bridge was closer to 30%. Nowadays, about all you can manage is to run all the cores at the single core turbo frequency. And sometimes that's not even achievable. Some of the reason for that is undoubtedly the ability to test/simulate chip performance with more accuracy and in more volume than in the past.
One last thing, is that oftentimes, the motherboard ends up "overclocking" a CPU even without you knowing it. Intel Multi-Core Enhancement (MCE) is a BIOS setting that runs all cores at the single core max turbo frequency. This was a big issue/story in Sandy Bridge and tapering off in Ivy Bridge, but now has become practically ubiquitous again. This feature is turned on by default (out of the box) by the mobo manufacturer, and is technically overclocking. AMD boards just had a story last week about mobo manufacturers cheating on the power reporting to the chips, to trick them into running faster than they otherwise would.