The level and kind of VIs can effect the HTHS viscosity based on how those additives behave at high shear rates, but MOFT is still directly connected to viscosity when the other factors influencing MOFT are held constant (ie, clearances, speed, load, etc). Higher HTHS viscosity will always result in more MOFT due to the basic physics of Tribology.
But the "film strength" of the oil (ie, the AF/AW additives) that provide the sacrificial tribofilm on parts is important when parts are rubbing in mixed and boundary lubrication, or when hydrodynamic lubrication MOFT goes to zero. Like mentioned above, parts that live primarily in mixed and boundary lubrication realms are designed to have very hard surfaces, like cams, followers, rings, etc. Journal bearings are pretty soft compared to other components, and are themselves somewhat sacrificial through wear to a point when MOFT goes to zero. The more you can keep journal bearings in full hydrodynamic lubrication and other components in mixed lubrication a bit more separated with more MOFT, the better. That's where the MOFT headroom comes in.
Yes, the engine's use condictions are definately a consideration, as well has how well the oil temperature is maintained under use. Toyota OMs even mention to use a higher viscosity if the vehicle is used harder. Vehicles not pushed very hard can live well on xW-20, but IMO anything pushed more than just normal driving around would be better protected with a xW-30, and of course if the car is raced you'd be better with a xW-40 or xW-50. I recall a guy on YT saying he ran a 5W-20 on his tracked car because he though it would keep the oil temps down, but he ended up causing some pretty good wear on the journal bearings instead.
This Machinery Lubrication article is good and explains the difference between film thickness and film strength. Film thickness (the MOFT) is always the main wear mitigation, and the film strength (the AF/AW tribofilm) kicks in to mitatgate wear when the film thickness can't maintain itself and parts are rubbing in mixed and boundary lubrication.
Discover why film strength is one of the most critical lubricant properties for protecting a machine’s internal components.
www.machinerylubrication.com
"Film strength can be described as the lubricant’s ability to lessen the effects of friction and control wear by means other than the film thickness. As mentioned, the viscosity is the primary contributor to film thickness during hydrodynamic and elastohydrodynamic lubrication. When the base oil viscosity is insufficient to overcome metal-to-metal surface contact, the base oil and additive chemistry work together to create a surface protection mechanism. During these boundary conditions, boundary lubrication is also influenced by the chemical and physical properties of the mechanical surfaces and any contributing environmental factors."