AMD released the Ryzen 8040 series mobile processor Hawk Point at the end of last year, but seriously it is very similar to the Ryzen 7040 processor Phoenix, which also uses TSMC 4nm process, CPU is Zen 4 architecture, GPU is RDNA 3 architecture, the biggest difference that can be seen from the specifications is that it is equipped with a faster NPU, and the computing power has increased from 10 tops to 16 tops.
In fact, the Phoenix chip has a very wide range of use, and the Ryzen Z1 Extreme used in the handheld is also used in it, the specifications are basically the same as the Ryzen 7 7840U, but the NPU is not enabled, and the TDP is also optimized for the handheld, the Ryzen 7 7840U is 15-30W, and the Ryzen Z1 Extreme is 9-30W, which can basically be seen as the successor to Van Gogh on the Steam Deck, which uses Zen 2 CPUs and RDNA 2 GPUs, the specs are also much lower.
As for the difference between the new Hawk Point chip and the Phoenix, according to the test of @cary Golomb, he found that the Ryzen 7 8840U performs better than the Ryzen 7 7840U and Van Gogh at 10W. 
He compared several handhelds with AMD processors, three handhelds with Ryzen 7 7840U, the average frame rate of the game is basically the same, and the SteamDeck with Vangogh is obviously higher than them at 10W, of course, not much higher, but the average frame rate of Ryzen 7 8840U at 10W is significantly higher by about 10%.
It's unclear if AMD intends to launch a Hawk Point-based Ryzen Z2 series processor, although it's also possible that AMD will jump straight to Zen 5 + RDNA 35 strix point architecture, after all, the handheld market is not very likely to need such a high frequency of product updates.