No, tax credit has nothing to do with tax withholding.
If you owe $2000 at the end of 2023 because you under-withheld, you will get $5500 tax refund.
If you over-withheld, and are due for $5000 refund at end of 2023, you will get a $12,500 tax refund.
(This is assuming your total tax for 2023...