According to our internet sleuthing, though, Palit 4070s require just the one standard 8-pin PCIe power connector; only the 4070 Super models use a 16-pin power plug. Regardless, the PSU ought to ...

it seems to be that the RTX 4070 owner was alerted of the burning card by "the horrible smell." Patryk's conclusion is that the burning "certainly started at or near the 12V PCIE connector." ...