Turbo boost is not that great like it looks like on a paper. Since only one core from all cores is turbo boosting and this frequency is more or less teoretical. Frequency depends on ability to cool processor. iMac has great cooling so I suppose it should be close but not exavtly there. Of course, this applies only if you are looking into single core performace.
Well actually it works differently than you described. All the cores can and will turbo boost, but the maximum boosted clock speed drops as more cores are boosted / in use.
-Edit- More info here: https://macperformanceguide.com/blog/2017/20171223_1128-TurboBoost-iMacPro.html
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