Even though the spec sheets do not mention the exact processors, the ACH denomination added to the products names suggests that Lenovo is equipping these models with AMD's Ryzen 5000H processors. The 14p model does not get discrete graphics, but offers an OLED panel option, while the 16p version offers Nvidia RTX 3000 dGPU options and a Pantone calibrated IPS panel.
https://www.notebookcheck.net/Lenovo-announces-ThinkBook-14p-16p-Gen2-business-laptops-with-latest-AMD-APUs-and-next-gen-Nvidia-RTX-GPUs.512975.0.html