My first, a 2006 LBZ listed 15W40 as first choice above zero F, 5W40 below that. SAE 10W30 and SAE 30 were also listed as optional grades.
As the power and torque were both raised in the LML, the 10W30 and SAE 30 options were no longer listed in the owners manual.
My latest, a 2018 L5P with higher torque and horsepower again only lists 5W40 and 15W40, CJ-4 or CK-4.
The old warning about 10W40 still lingers on, despite there being a few synthetic CK-4 and CJ-4 offerings.
(Just like the wrong end of the spare tire crank photo and the transmission fluid change interval.)
If you look at base oil viscosity (BOV), SAE 30 is thicker than 5W40, and therefore offer better protection to the loaded (top) con-rod bearing.
If you buy into that, then SAE40 should protect better than 20W50.
Throw out the SAE grades and go with Shannow"s XW/HTHS.
That translates to pick your ambient and your engine's HTHS requirement.
Your engine oil choice must meet both at the end of the oil drain interval.
What does Dr Noack have to say about SAE40? Chevron publishes their group II of the viscosity applicable at 4%.