After completing all testing and photos, I reassembled my card and wondered if I could push Junction Temperature below the 110°C I've been seeing on the stock card. Changing the thermal paste didn't make much of a difference (barely 1-2 °C better). My trick for such situations is increasing mounting pressure by adding little metal washers. Pictured above, you see two of the washers: one to get a better look and another below one of the mounting screws to indicate the location I placed it in. Of course, you want to use a total of four washers—one for each screw. I used 6 mm outer diameter, 3 mm inner diameter and 0.5 mm thickness, but you can use everything that falls into that size range. Also, I'd recommend plastic washers, so you don't accidentally short something if you lose it in our case.
With the washers installed, my Radeon VII Junction Temperature dropped by around 10°C to 100°C, which is a significant improvement.
