It can be good or bad. It depends on which is more objectionable: the noise generated by when the CPU staying at top speed or the noise generated when the CPU repeatedly changing frequencies depending on it’s load. I’d guess that most of the time things would be best when the CPU is always loafing at the lowest speed, but disabling Intel speed step, etc. isn’t always trivial… Things are darned complicated in CPUs these days and there’s no single answer that works best for everyone.
My current lap top has 8 cores and is built for serious computing - but one more thing that it does much better than my old laptop is that it can still be loafing while calculating replaygain or decoding DST from SACD ISOs, etc at the same time as it’s playing without generating enough heat to start the fan… Keeping the fan off keeps down one of the worst generators of noise in a laptop (both electrically noise and acoustic noise.)