I can’t speak on which is the best. I haven’t compared them on modern systems.
But what I will say is make sure you’re not artificially limiting your power levels or clock speed too much. Big fat Intel CPUs like that are power hogs when active. They need to reach an idle state. I have a laptop with an i9 11950h which is the same thing. But with the power plan on the lowest I get worse battery life and performance than if I just left it on balanced. But it depends on the workload. If there is no idle then power save might be best. But if you’re browsing the web and not constantly scrolling then balanced might just be better.