^ It depends on how the PSU is designed. In the most basic, old school design, the SMPS IC has an internal voltage reference, then the output of at least one but usually two or more rails (12V and 5V in this case) has a feedback to the IC going through a pair of resistors as a voltage divider to make the target output (whether 12V or 5V) get pulled down to the IC's reference voltage but there is an internal (or external set with a discreet component, you'd need to check the IC datasheet) failsafe if the voltage exceeds the limit.
The simplier way to put it is "IF" you have the most basic old PSU design described above, you could reduce the value of the resistor in the 5V feedback loop going to ground as the pull down to reduce that voltage within acceptable limits, OR easier would be just put a dummy load on the 5V rail for example a single-digit ohms power resistor, or just use a different PSU with independent rail regulation.