@ignsvn My experience running my 3080Ti FE at 385 watts all day long in a Velka 7 says a 4090 set to 300w would be comfortable in a velka 7, if it could have a suitable efficient dual slot air cooler attached to it.
What I do is I have two NF-A12x25 fans bolted onto the GPU side panel force-feeding the FE card. In this configuration it stays cool under 80C. It's not too noisy. A nice whooshing sound. I did do a thermal putty and copper ram shim application to bring the memory junction temps down.
When I run it without the noctua fans force-feeding the FE card, it definitely makes sense to undervolt the card. In this configuration it's the Velka 7 6 liter form factor. I guess with the noctuas bolted on I can consider it to be a 7 liter system.
I will never stop raving about the perfection that is the velka 7 GPU offset mod enabling the flow-through exhaust wind tunnel for the GPU. This helps the thermal situation a good bit. Without this approach, the exhaust air does get trapped, and flowthrough cooler designs may not be ideal in this case.
As you can tell I really would love to do a project jamming a 4090 into a Velka 7 but since I don't have any connections to heatsink manufacturers it does not seem to be in the cards for me. It's a hell of a niche. Most 4090 users are fine running huge rigs. Me I'm only interested in something 7 liters or less. 3080Ti holds me over fine for now.