Low Power Mode in Apple’s macOS software also reduces fan noise on specific Mac models for tasks that require a quieter environment.
Low Power Mode with reduced fan noise is available on the M3 Ultra and M4 Max models of the Mac Studio desktop, the 2023 Mac mini, the 2023 iMac all-in-one, the M4 MacBook Air and other models.
High Power Mode is available on certain Apple silicon Macs, providing longer sustained performance in intensive workloads with higher fan speeds, but at the expense of battery life.
The new Mac Studio does not support High Power Mode, and it is speculated that the next macOS update may bring High Power Mode to M3 Ultra and M4 Max models.