Gigabyte ME03-PE0 motherboard fans ramping up to 100%

I’ve got a Gigabyte ME03-PE0 motherboard and Noctua NF-A14 PWM + NFA15 PWM fans. I would like to run the fans @ 300 RPM @ idle but if I set the speed via the server management console the fans ramp up to 100% every couple of seconds even though the CPU temperature is <40°C. A known problem with low RPM fans on server motherboards.
Unfortunately the threshold are already low by default (Lower Non-Critical 300 RPM + Lower Critical 150 RPM) and even though the fans never drop below these thresholds they still ramp up to 100%. The only way to avoid that is to set the speed to ~750 RPM.
There are also no related events in the IPMI log. If I set the threshold to 1000 RPM I can see fan related events in the log.
I’ve also tried setting the thresholds via IPMItool without luck.

root@proxmox:~# ipmitool sensor list all
IANA PEN registry open failed: No such file or directory
Received a response with unexpected ID 0 vs. 1
Watchdog         | 0x0        | discrete   | 0x0080| na        | na        | na        | na        | na        | na
SEL              | 0x0        | discrete   | 0x0080| na        | na        | na        | na        | na        | na
CPU0_TEMP        | 35.000     | degrees C  | ok    | na        | na        | na        | 95.000    | 98.000    | na
CPU0_Status      | 0x80       | discrete   | 0x8080| na        | na        | na        | na        | na        | na
DIMMG0_TEMP      | 34.000     | degrees C  | ok    | na        | na        | na        | 85.000    | 87.000    | na
DIMMG1_TEMP      | 34.000     | degrees C  | ok    | na        | na        | na        | 85.000    | 87.000    | na
M2_AMB_TEMP      | 41.000     | degrees C  | ok    | na        | na        | na        | 92.000    | 96.000    | na
HIC_TEMP_0       | 40.000     | degrees C  | ok    | na        | na        | na        | 85.000    | 90.000    | na
HIC_TEMP_1       | 35.000     | degrees C  | ok    | na        | na        | na        | 85.000    | 90.000    | na
HIC_TEMP_2       | 33.000     | degrees C  | ok    | na        | na        | na        | 85.000    | 90.000    | na
HIC_TEMP_3       | 30.000     | degrees C  | ok    | na        | na        | na        | 85.000    | 90.000    | na
HIC_TEMP_4       | 33.000     | degrees C  | ok    | na        | na        | na        | 85.000    | 90.000    | na
CPU0_FAN         | 750.000    | RPM        | ok    | na        | 150.000   | 300.000   | na        | na        | na
SYS_FAN1         | na         | RPM        | na    | na        | 150.000   | 300.000   | na        | na        | na
SYS_FAN2         | na         | RPM        | na    | na        | 150.000   | 300.000   | na        | na        | na
SYS_FAN3         | na         | RPM        | na    | na        | 150.000   | 300.000   | na        | na        | na
SYS_FAN4         | 750.000    | RPM        | ok    | na        | 150.000   | 300.000   | na        | na        | na
SYS_FAN5         | na         | RPM        | na    | na        | 150.000   | 300.000   | na        | na        | na
root@proxmox:~# ipmitool sensor thresh "CPU0_FAN" lower 100 200 300
IANA PEN registry open failed: No such file or directory
Locating sensor record 'CPU0_FAN'...
Setting sensor "CPU0_FAN" Lower Non-Recoverable threshold to 100.000
Error setting threshold: Command illegal for specified sensor or record type
Setting sensor "CPU0_FAN" Lower Critical threshold to 200.000
Setting sensor "CPU0_FAN" Lower Non-Critical threshold to 300.000
root@proxmox:~# ipmitool sensor thresh "SYS_FAN4" lower 100 200 300
IANA PEN registry open failed: No such file or directory
Received a response with unexpected ID 0 vs. 1
Locating sensor record 'SYS_FAN4'...
Setting sensor "SYS_FAN4" Lower Non-Recoverable threshold to 100.000
Error setting threshold: Command illegal for specified sensor or record type
Setting sensor "SYS_FAN4" Lower Critical threshold to 200.000
Setting sensor "SYS_FAN4" Lower Non-Critical threshold to 300.000