Current/EDP Limit Throtting

Hold on to your hats, this is going to be a wild one (maybe). When I have my power plan set to "Balance", and have Intel Extreme Tuning Utility running to see my status, I don't see anything remotely about Current/EDP Limit Throtting. However, when I turn my power plan set to High Performance my Current/EDP Limit Throtting is on. So my questions are: #1: Would it hurt my system in any way if I didn't do a thing and let my system run on High Performance knowing that my Current/EDP Limit Throtting has been reached? #2: How would I fix this so that it doesn't show up anymore if I have my system set on High Performance?
My system is the following: CPU 11900K, MB is Z-590-e and my PSU is 800watts.
Thanks

It means that the core CPU temperatures have been exceeded, and the firmware is throttling the CPU performance to keep the temps down. What you want to do is improve the thermal solution of your computer, to bring the temps down without compromising the performance. This would entail either adding more fans to the case, moving to a water cooled solution, or maybe re-applying the thermal paste, in order to get better thermal performance.
You can monitor temps by using software such as HWiNFO.
Useful links:

Thank you Iko22 for answering me. I reviewed your answers in the links provided and the one from Intel is:

• Processor Power Limits PL1/PL2 is set too low in Intel® XTU.
• The Core Voltage limit is set too low in Intel® XTU.

I have no clue how to check this out in XTU and figure out how to correct them without blowing up my computer system (crashing it). However, I did ask two questions of which only 1 was answered. The question again was, if I don't do anything will this hurt the CPU?
Thanks
Dan

Yes, you I was aware that you did ask two questions. I avoided the second question due to safety concerns for your equipment.

So, yes if you don't heed the temperature warnings then it could damage the CPU permanently. The in-built throttling gives you a wider margin to work with. But, if the temps are still too high after throttling has been applied, then you are asking for trouble.

Generally lower temperatures buys room to increase the VCore of the CPU. Increasing the VCore allows you to overclock the CPU beyond it's specification. The XTU is just an app that simplifies the Overclocking process.

To Overclock the CPU safely, you need to know the max operating temperature of the CPU and the max allowable VCore voltage.
The MAX temperature for a stable PC is between 70 - 90 Celsius. The max VCore is 1.52 Volts for your CPU model.

• To use the XTU to monitor the VCore, you select the Configure Monitor Hardware icon, then select Core Voltage, and click Close. Then the Core Voltage will be displayed in lower right window of the XTU.

PL1 and PL2 stand for Power Limit 1 & 2 (there are four in total). The explanation the Intel Family Datasheet gives, is that PL1 is a limit for the average TDP power and PL2 is the limit of a spike in TDP power. Both PL1 and PL2 are used to calculate the available Turbo Boost.
I cannot find anything about the XTU and monitoring PL1, PL2. Assume it is set in UEFI only.
If your machine is throttling on a Power Plan, then I would still start by assuming that your machine has a cooling problem as it is empirically the safest route to take.