Since C64 uses 9VAC to power the SID chip, it is advisable for the 9V AC power line to be cut-off in case of 5V overvoltage as well. Otherwise the SID chip remains powered, while the rest of the computer is not.
This will require a lot more components to fix something that will only happen in a 5V rail overvoltage condition. The sid will survive having only 9VAC supply running.
Since C64 uses 9VAC to power the SID chip, it is advisable for the 9V AC power line to be cut-off in case of 5V overvoltage as well. Otherwise the SID chip remains powered, while the rest of the computer is not.