I was going to ask if the pump is running in your water cooler but then I realised that you did not say your system was unstable or crashing at those temps. And so if the CPU runs fine then it's probably an issue with the thermal sensor causing it to report the wrong temps (as at those temps the system should be unstable or worse) If the CPU is still under warranty then file a request as it's important to have the temps report properly as certain features like fan speeds CPU Ghz speeds etc depend on the reported temperatures.
Try rebooting after using your PC and right away enter the BIOS see what the temperature reads in your BIOS. If it reports the same high temps then there's definitively an issue with your CPU (or motherboard sensor). If the temperature is much lower like 40-60 then whatever temperature monitoring software your currently running - if it's reporting wrong it could also be causing an issue with other temperature reading software especially if there is a bug in the current monitoring software which looks like it might also be a stay resident program (which means it could effect other programs ability to read/report)
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Those additional steps indicate that he is having a thermal issue from - for example his heat sink being not connected or seated properly. If this was the case his system would be unstable at those temperatures. Also when he ran IPDT64 temperature test if the heat sink was not installed correctly then it would have reported a temperature of around 98c like the BIOS temperature and Corsair software is reporting. Instead IPDT64 failed while attempting to report the temperature meaning there must be a fault with the CPU's thermal sensor or pathways. Also note that the Corsair water cooler software is reporting that the temperature of the water in the cooler is 43.4c which is more likely the actual temperature of the CPU.