I don't think engine size or the clearance or "tolerance" as some people refer to has anything to do with the engine oil grade.
How hot the engine oil operates at, the valvetrain loading, and how well the engine is designed should dictate the viscosity of the lubricant.
The Chev big blocks are known as valvetrain eaters for several reasons, not to mention their crank and rod oiling problems, and their poor 1.53 con-rod ratio.
I'm sure that a tall deck 427 BBC with a small journal Dodge 426 Hemi rod, a good oil pump, and a rollerized valvetrain could easily run with 5W20 in the crankcase.
On the other hand a little 3.0 working its @$$ off in a 22 foot boat could have engine oil temperatures far above the big engines.
4500 HP locomotive engines use either 20W40 or SAE 40 in the 2-strokes. If the bigger the motor the thicker the oil theory held true, 30,000HP ship engines also would use engine oils far heavier than an SAE 30 or 40, but they don't.