You're asking how to undervolt right? Your best bet is to use the adaptive voltage control and there you can set a negative voltage VID. The way the adaptive voltage control works is that it takes the CPU VID or voltage request at a certain frequency and either adds or subtracts from that value. For example if you set say -50MV adaptive voltage each VID the CPU requests will have 50MV less voltage. I'm running 5Ghz for all P cores on my 12700k and Z690 classified with a -40MV adaptive voltage control (sometimes called offset) and its running nicely. At full load I'm seeing just about 1.3V with 85C reported by CPUid HW monitor. Your 1.17v seems pretty low for a loaded CPU at 5ghz but if that's true you got yourself a pretty good CPU. There's a pretty good comparison thread you can look with for alderlake CPUs and silicon lottery here. 
 
edit* can't post links yet, but you can google search [Official] Intel Core i9-12900K / i7-12700K P-core binning on overclock(dot)net and find the thread.