A lot of people have reported problems when using this paste on laptop CPUs. Some long term results with this paste are terrible. Keep a close eye on your CPU temperatures. If they are increasing within a few weeks of replacing the paste, you will have to do this job again with something else. Noctua NT-H2 has a good reputation on laptop CPUs.
Your screenshot shows that PROCHOT is red. This is not the same as BD PROCHOT. CPUs can change temperatures instantaneously. ThrottleStop is only sampling the temperature of your CPU once every second. It is possible that your CPU got up to 94°C, maybe only for a millisecond or two. The maximum temperature reported by ThrottleStop is 92°C so it is very likely that one of your CPU cores touched 94°C long enough to trigger the thermal throttling flag. That is what it means when ThrottleStop shows PROCHOT 94°C in red.
If you want to increase this limit, go into the Options window and lower the PROCHOT Offset value. Many laptops set this to 2 or 3 so the CPU will start thermal throttling at 98°C or 97°C. The Intel default is 0. Intel designs their CPUs so they start thermal throttling at 100°C. Ultimately you will have to improve your cooling. With Lenovo laptops, when you find an offset value that you like, check the Lock PROCHOT Offset option. This will prevent any Lenovo software from making changes to this setting. Some Lenovo laptops can randomly drop the throttling temperature to 70°C or less. This can kill performance and it is a hard problem to troubleshoot if you are not familiar with what is happening. Not a lot forum posts talk about this issue.
The Turbo Power Limits window shows that your computer is using two different power limits. It would be best to check the MMIO Lock box so this lower power limit is not used. Also clear the Disable Power Limit Control box. When this box is clear, it tells ThrottleStop to monitor and maintain the PL1 and PL2 power limits. When this box is checked, ThrottleStop will not do anything to maintain your power limits.
Check the Speed Shift box while you are in the TPL window.