Tool for monitoring CPU and GPU heat levels and activity in real time
Yes, there are several tools available for monitoring real-time CPU and GPU temperatures along with usage metrics.
OpenHardwareMonitor or HWMonitor is a tool for tracking hardware performance.
MSi Afterburner supports both functions within its OSD. Additionally, HWMonitor is available.
MSI afterburner, HWinfo, HWmonitor tools available.
HWMonitor is reputable according to what I've heard. Personally, I prefer Aida64 and Core Temp.