You've clicked on the blue question mark beside the reported PCIe spec and run the render test, yes?
"
Modern graphics cards come with extensive power saving features.
One of these functions reduces the PCI-Express link speed & width to lower levels to conserve power when the card is idle.
This is why you might see undesired values in GPU-Z's Bus Interface readout.
If you click the button below, a small render test will be started which should put the card in its highest power state, so you can verify proper PCI-Express speeds.
Once the test is started, look at the Bus Interface readout in the GPU-Z window to change within a few seconds.
(etc)"
Also check Advanced Power Settings in Windows Power Options to confirm the ASPM setting for PCI Express Link State Power Management is disabled.
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