Aiming for higher occupancy is not always a desired solution, what frequently matters more is avoiding global memory latencies by retaining more data in registers and/or shared memory. This was first noted in 2010 and is still true today:
I would also think in terms of latency hiding rather than just work parallelism (though latency hiding on GPUs is largely because of parallelism). This is the reason why GPUs have massive register files, because unlike modern multi-core CPUs, we omit latency reducing hardware (e.g., speculative execution, large caches, that out-of-order execution stuff/register renaming etc) and in order to fill pipelines we need to have many instructions outstanding, which means that the operands for those pending arguments need to remain around for a lot longer, hence the massive register file.
https://www.nvidia.com/content/gtc-2010/pdfs/2238_gtc2010.pd...
I would also think in terms of latency hiding rather than just work parallelism (though latency hiding on GPUs is largely because of parallelism). This is the reason why GPUs have massive register files, because unlike modern multi-core CPUs, we omit latency reducing hardware (e.g., speculative execution, large caches, that out-of-order execution stuff/register renaming etc) and in order to fill pipelines we need to have many instructions outstanding, which means that the operands for those pending arguments need to remain around for a lot longer, hence the massive register file.