If two different monitors give identically incorrect readings you can take it that is is most likely to be the motherboard censors that are giving false information. If everything works ignore it an remember that the 3.3V censor tends to read a little low.
I wouldn't worry about low voltage affecting the CPU. Most modern CPUs operate on voltages down to around 2V and there is a separate voltage regulator on the motherboard to reduce the 3.3v to the required voltage.
This is the voltage that is controlled by the BIOS, not the output from the power supply which the voltage censor is measuring.
For it to be a problem for the CPU it the 3.3v rail would have to drop down to 2V and before it started affecting the CPU is would be causing problems with the memory which also uses 3.3 v.
Low voltage on the CPU wouldn't do it any harm, just make it very unstable.
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