Yes, for high-power LED lights, there are heat sinks. After exiting the metal heat sink of the LED chip, the heat is transferred via solder to the aluminum substrate PCB and then thermal conductive glue to the aluminum heat sink. The heat sinks use both convection and radiation heat dissipation techniques. They are usually in the shape of fins to expand the area that dissipates heat.
More reading: PCB Technology Applied To LED PCB Assembly