An OFDM waveform is a sum of many subcarriers, and occasionally they align. Those alignments produce peaks far above the average power, and the amplifier has to accommodate them or clip them. Accommodating them means backing off and running inefficiently; clipping them means distortion.
Crest factor reduction is the third option: shape the waveform deliberately so the peaks are less extreme before the amplifier sees them. Because this is done knowingly rather than by hard clipping, the resulting distortion can be placed where it does least harm.
The weighted windowing approach applies a shaped correction around each peak rather than a hard limit, which spreads the correction's spectral consequences rather than concentrating them at the clipping instant. That is what allows meaningful PAPR reduction while keeping error vector magnitude inside the budget.