Just became an owner of Korad KA3010D lab PSU. For a few decades I was using pure analog coarse/fine linear lab power supplies and got tired of ringing/bouncing wipers of potentiometers leading to unstable voltage/current control.
Well, this Korad PSUs have OVP and OCP features.
An idea behind OCP is absolutely clear: when actual current reaches (for whatever reason) a set point, instead of just limiting the current by lowering output voltage the device will completely switch its output off. Indeed, in some cases if you know your load will not draw more current under constant voltage than some known value, if it eventually start to draw, it DEFINITELY means something went wrong in your circuitrarty and immediate shutdown will indeed PROTECT something in your load.
OVP is different story. I can't get an idea behind this feature. If your load is always sinking current/energy, then UNDER NO CIRCUMSTANCES voltage on the output terminal may become higher than what you set on you Korad PSU. And thus OVP is just useless since in never happens to have OV condition. But if your load can sometimes become a source of electromotive force itself and start producing power, then, yes, voltage on output terminals may become higher than what you just set. An example of this may be a DC motor which, if spinned by some external force, may become a voltage generator rather than consumer.
Okay. But! Turning off series pass transistor of the PSU in such condition does not make any difference. If you set your PSU to output 15V and your load started to produce 20V on it's terminals, switching off PSU will not cancel this 20V to be present on output/input terminals.
So what does this overvoltage protection really protect? What it intended to protect? If it is intended to protect the load from overvoltage condition, then it is useless since the load itself generate this overvoltage condition and it will keep producing it despite of PSU series-pass transistor state. If it is intended to protect the PSU itself (rather than "load"), then, again, it doesn help at all since voltage produced by load will be still present on internal circuitrary of the PSU (unless there is a relay which physically disconnects PSU's output terminals from PSU internal circuitrary).
On the other hand, if an idea behind OCP is "instead of current-limiting just immediately prevent any current from flowing out of PSU", OVP must (by analogy) work as follows "instead of voltage-regulating just immediately prevent any voltage to be present on PSU terminals". To achieve this PSU must short its terminals when OVP is triggered. However, even if such such OVP is not turned on, "voltage-regulating" ability of the PSU has to include sinking current from extenal device to keep voltage on predefined level, not just sourcing current.
At this point we come to something what is called four-quadrant power supply.

An ideal voltage source is four-quadrant: it can produce positive voltage and source current, positive voltage and sink current, negative voltage and sink current and negative voltage and source current. I believe (even though I didn't look though schematic or revese-engineer it) Korad PSU is not even a two-quadrant PSU — as it is true for almost every lab bench PSU of this class and price. It can only produce positive voltage and it can only SOURCE current (but not sink).
So, if it has single-quadrant operation by design, then having OVP which shorts PSU's terminal is inconsequent. If only it was, it would be reasonable if without OVP the PSU tries to keep voltage at defined value even by sinking current from the "load" (in quote-marks, because the "load" itself produce a voltage) literally pulling down "V+" rail to "V-" and with OVP switched instead of clamping voltage by sinking current it shorts its terminal to completely remove any voltage from the terminals (like in case with OCP it completely "removes" a current from the output).
So, I am almost sure Korad is single-quadrant operation. And if so, it is likely not going to short its terminals on OV-condition. And just switching off series-pass transistor does protect neither the PSU nor a "load" from overvoltage.
So, what's the point and how it is intended to work?