Yea it's especially common when running external monitors. The conspiracy-minded would say Apple wanted to leave a reason for MBP buyers to upgrade to M1 laptops.
Poor drivers. The same reason why the discrete GPU pulls around 20W just for being on with an external screen, even if the screen is black. Apparently not an issue:
* in clamshell mode;
* on Windows via BootCamp.
According to some reports in the MacRumours forum [0] this is fixed in Monterey.
Edit: Not quite a fix. Apparently they introduced a Low Power Mode that helps bring wattage and temps down by essentially preemptively throttling CPU and GPU or something like that.
Indeed. I disable turbo boost on my 16". It hurts peak performance but runs (slightly) cooler and quieter, and sustains for longer. This reads all kinds of wrong.