In EZ-PD configuration utility, under Power Protection- Overvoltage Protection, there is an option to configure the % threshold parameter. This parameter specifies the excess voltage margin ( above the rated voltage) that is allowed before OVP fault is triggered. It can take value between 5-100. For example, if you configure it as 20 % and VBUS level is negotiated at 5V, the monitoring will be up to 6V (5V+20%). In this case, if VBUS exceeds 6V, the OVP protection will disable the port.
CCG3PA datasheet (Page 5) says that " Port pins P1.0 and P1.1 can be configured to indicate Fault for OCP/SCP/OVP/UVP conditions". Apart from this, as soon as OVP is signaled, the firmware will disable the port and re-enable it after a pre-defined time. If the OV condition still exists, it goes through the disable-enable cycle again. This is repeated for a specific number of retries after which the port is temporarily disabled; it can be re-enabled through a hard reset/power cycle or by disconnecting/reconnecting the port partner.
You can also take a look at psource.c file (app_psrc_vbus_ovp_cbk) in the Power SDK firmware to understand the implementation.