Im in the same situation, even seeing CPU speed only slowing down when using USB-C to HDMI io. I think its a problem with their USB-C io process. I've been having problems where, only when using USB-C to HDMI, my display will glitch so bad, the computer is unusable, and has to be restarted (need to hold power button down until it powers off, any other input doesnt work at all). I've also noticed that when plugging in and unplugging the USB-C cord, the CPU utilization goes from 20% to 95-100%! Coupled with the fact that the clock speed drops to 0.5GHz - ish when the battery falls below 35%, only while using USB-C io, I think its a soft/firm ware issue with their USB-C io handling.
But its just a guess.