Pi’s have a dynamic clock speed, it will usually idle around 600MHz and only bump up to max speed when required for performance. If it gets hot enough though, the thermal protection will kick in and throttle the clock speed right back.
So it is likely either that your CPU is not under load, or it is overheating.
Short of running your Pi in an oven the thermal protection will prevent any damage, but extra cooling can allow you to run faster for longer.
Raspbian GNU/Linux 11 (bullseye). I have managed to overclock the pi to 2.5GHz but right now I have it back at 1.4GHz.
Output is: pi@raspberrypi:~ $ while true; do vcgencmd measure_clock arm; vcgencmd measure_temp; sleep 10; done& stress -c 4 -t 900s [1] 3425 stress: info: [3426] dispatching hogs: 4 cpu, 0 io, 0 vm, 0 hdd frequency(48)=600000000 temp=38.6’C frequency(48)=600000000 temp=41.3’C frequency(48)=600000000 temp=41.9’C frequency(48)=600000000 temp=41.9’C frequency(48)=600000000 temp=42.9’C frequency(48)=600000000 temp=42.9’C frequency(48)=600000000 temp=42.9’C frequency(48)=600000000 temp=42.9’C frequency(48)=600000000 temp=43.5’C frequency(48)=600000000 temp=44.0’C frequency(48)=600000000 temp=43.5’C
(I changed my hostname etc. back to the default for privacy reasons)
I am using a 30mm2 cooling fan and a 15mm2 heatsink fixed to the Broadcom chip using thermal tape.