Question Need help identifying a part on my laptop motherboard

I agree, looks like the secondary voltages for the CPU with one of the three main power phases for the CPU at the bottom of the circled area. Memory voltage supply appears to be on the right hand side of the image.

Possible the board could be repaired, but if it burned out because of CPU failure, then it isn't worth it. A replacement board is likely to be cheaper. Though being 11th gen, might be better to pick up a new laptop with previous generation hardware. Intel 13th and 14th gen should be pretty decently priced. and AMDs 7000 and 8000 series CPUs are pretty inexpensive.