Smoke from engine compartment after 4k+ RPMs - Power steering leak?

[Sesameopen]

Hi, so I've noticed that if I every go past 4000 RPMs, smoke comes out the passenger side engine compartment through the front grill. I tried taking a photo/video, but it doesn't show up. However its very noticeable in person. Any idea what could be burning? The smell is definitely noticeable. I'm suspecting that it might be power steering fluid.

I've always had a power steering leak that I've never been able to find, but it's not too bad, maybe a top up every week or so, more often during the winter when it's below freezing.

Should I be worried because I rarely go above 4000 RPMs, and I don't really mind topping up the power steering fluid. Other than that, the b6 has been very "reliable".

It's a 2003 3.0 with an automatic

Thanks!

[2004a4b630QT]

VC gaskets leaking onto exhaust manifold or downpipes.
PS Rack seals blown leaking onto cats. If you rack has never been changed this is a big fail point. I just did mine. It's absolute hell on the Tip but would be even worse paying huge labor rates .
Trans cooler hardlines leaking spraying from radiator connection point due to failing o-ring. makes smoke on right side of engine.

I'd start there. None of these ever caused me a problem at a specific rpm, but the 3.0 runs relatively cool until you step on it. That's why we auto guys have to burn carbon off at highway speeds and beyond

[EuroxS4]

Very possible that the rack is leaking from the inner boot.I have the same leak on my 1.8T avant at the moment.