The three default ones:
- Power saver: Most peripheral power saving options are enabled or set to their most aggressive behavior. CPU core parking is also enabled
- Balanced: Most peripheral power saving options are either enabled or set to a moderate behavior. CPU core parking is disabled
- High Power: Most peripheral power saving options are disabled
Of note there's likely a lot of hidden options when changing advanced power options. For example
powercfg -attributes sub_processor perfboostmode -attrib_hide shows the option for CPU boosting behavior while
powercfg -attributes sub_processor 0cc5b647-c1df-4637-891a-dec35c318583 -attrib_hide shows the option for core parking. Funny enough, the CPU boosting behavior for all three is "Aggressive".
Also I've noticed even in High Power, the CPU's power management will still kick in the form of reducing clock speeds and entering the other C-states. There may be an additional option to disable this, but it's also likely that this can only be configured in BIOS.
Similarly, video cards (at least NVIDIA ones, I don't have an AMD one to confirm its behavior) will still drop down in clock speeds even if you say something like "prefer maximum performance" or something. PCIe Link power management only affects if the PCIe bus is allowed to go down in "version" to save power.
In any case, the only potential difference in choosing anything higher than balanced is maybe more consistent performance. But as long as something high performant is running, the hardware is likely not going to go down in power state anyway. If you want consistent performance, you're going to have to lock the clock speed.