Can you tell us more about the engine and environment?
Turbocharged or naturally aspirated?
Maximum revs on track?
Does it have an oil cooler? Max oil temperature and where measured?
Is there an Accusump (pressure accumulator) in the oil system?
When I was running my Camaro on track, I just depended on the oil monitor to tell me when to change, and the engine survived just fine on various high quality synthetic 5w30's for 16 years.
If you are just doing track work with the engine, a series of UOA's over event weekends would eventually give you a picture of viscosity stability, fuel dilution, oxidation, and wear metal trends. Just starting out, I recommend an oil sample after each event, and after 3 such events trends can begin to be established.