Cameron,
Before setting "ProcPwrPerf" you need to make sure 'SysProfileSettings.SysProfile' object is set to 'Custom'. Check below command for details
racadm help bios.SysProfileSettings.ProcPwrPerf
To set SysProfile to custom, run following racadm command
racadm set bios.SysProfileSettings.SysProfile Custom
After this command you will be able to set "ProcPwrPerf" obeject. Once you set both object you need to create a Job for BIOS and reboot/powercycle the server to apply the setting
To create a JOB for BIOS run the following racadm command
racadm jobqueue create BIOS.Setup.1-1
To Power Cycle the server run following command
racadm serveraction powercycle