Hello Niels,
We have a spreadsheet where you can see the way in which grip is calculated for each track, both in dry and wet conditions.
The grip level applies generally. But depending on the car setup (front/rear wing and brake bias), it will affect understeer and oversteer differently.
As a human player, you typically want to play with a higher front wing than rear wing setting, and dominant rear brake bias. You mostly feel the lack of grip on the rear end. More wheelspin in lower gears, and oversteer in higher speed corners.
The computer controlled cars use a neutral wing setup (same front and rear wing). But when their grip is challenged through increasing the aggressiveness setting (late braking), they will typically also lose the rear end going into corners.
We also have a tool, a TSR patch, that can display the current grip level (as a number) as you drive, along with some other game related variables.
I will send the information to your email.
Cheers,
Hrvoje