From the National Weather Service:

Flash Flood Watches, High Wind Watches and high tidal cycles will continue to be the main concerns. The main impacts from the front will occur Thursday afternoon/evening through the per-dawn hours of Friday.
Rock slides have already occurred that closed Highway 1 overnight, further slides are possible. Monterey County Public Works and Office of Emergency Services are monitoring weather and road conditions. Of particular concern are the areas affected by the Soberanes Fire where rain totals could be the highest.