Did you try changing that setting in ThrottleStop yet? Did you try HWiNFO yet to monitor for this?
Intel calls this cTDP or configurable TDP. It allows individual manufacturers to easily lower the TDP power limit below the 45 Watt rated limit. When pressed hard, the CPU will throttle back its speed so it does not exceed this lower TDP value. This throttling is power related, not temperature related.
Your screenshot also shows that Asus lowered the thermal throttling temperature from the Intel rated 100°C to 88°C so I will not be surprised if they also lowered the power limit. As a consumer, sometimes problems like this are impossible to solve. The only solution is to put the laptop back in the box and tell Asus that they can have it back. Its performance does not live up to its appearance.
