Core M and Core i ULVs are a bloody pain in the arse to work with. My understanding of (part of) what is happening is the 4.5-6W of sustained power has to be shared between the CPU and GPU, so the CPU has to back off to give the graphics more watts in the game, as opposed to the stress test when it was running at 2GHz but with no GPU load. However, if you install Throttlestop and adjust the CPU/GPU power sharing ratio to give the CPU a bigger share, that may work to boost clock speeds. You might handicap the GPU too much, but it's all trial and error. You should also lower the offset voltage to make both the CPU and GPU use less watts, which should give both chips a bit of extra power to work with; it should also lower the temperatures a few degrees as well. I just did that and I was running benchmark at the same speeds but using 12W instead of 14W on my i5 laptop. Look up undervolting to find out proper guides on how to do it; it's not that hard to do but a bit daunting when you first look at all the options!
Another thing that you can try is to lower the multiplier to get the CPU frequency down to, say, 1.4-1.8GHz, something like that, and it may run steady at that speed - instead of the old 'push push push oh wait I'm overheating better slow down and cool off' method that sometimes happens to Core M devices.
Other things you can do include closing Explorer.exe, and relaunch it with Task Manager to gain some more system resources and a few extra FPS. There are some registry tweaks that are out there to optimize Windows, as well as quite a lot of unnecessary system services that you can disable; again, the guides are easy to find so search away, my friend.