I had a worse AIO than you and my 12900K at 300W managed to just hit 100°C.

Your cooler is not doing its job.

First of all, use good thermal paste like Kryonaut or Thermalright TFX, and use a Thermalright LGA 1700 contact frame.

Second of all, ensure your AIO works and double check all connections.

Third of all, use HWiNFO64.