There are other threads where people go into great detail but here's my quick take.
The Clarity's 103-hp internal combustion engine (ICE) is not by itself capable of spirited motoring because it's trying to power a 4,059-lb car. If you drive with a depleted battery, the engine works so hard that the revs rise dramatically, causing what people on this forum call the "angry bees." It's unpleasant to hear and is likely responsible for many of the negative reviews uninformed car testers write.
However, when the ICE is just supplementing the power coming from the battery (HV Mode), it can remain a low-key power partner to the 121-hp electric motor. The ICE is very quiet when used this way. When the ICE and battery are working together the total comes to 181 hp (it's complicated why it's not 121+103=224 hp).
If, like me, you mainly drive under EV power and are careful to never let the Clarity start it's ICE (we went 10 months this way), you'll be surprised at how much power you have in HV Mode.
In HV Mode, the Clarity
PHEV runs mostly on ICE-power as it works to keep the charge in the battery from dropping. After you use some battery power to accelerate for passing or to climb a hill, the Clarity in HV Mode uses regenerative braking or, possibly, some engine power to restore the battery to the state of charge it was at when you pressed the HV button.
An unfortunate decision by Honda was to cancel HV Mode when you turn off the Clarity. That means on a long trip you have to remember to press the HV button every time you start the car. I made a paper HV button to tape over the D button to remind me.
Unlike HV Mode, HV CHARGE Mode is to be avoided. The Clarity PHEV gets its worst possible gas mileage when using the ICE to charge the battery while it must also provide power for driving. The "approved" use of HV CHARGE Mode is to increase the charge in the battery before driving up a mountain after using up most of the charge on the last mountain.
It appears my quick take wasn't very quick after all.