Viscosity grades are simply a range of possible thicknesses of an oil. You could think of them as you might the tolerance on a resistor labeled 1000 ohms. Would you be surprised that one resistor was 990 and another was 1010 ohms? It's the same kind of thing. Oils with the same SAE weight fall into a range of centistoke or SUS values.
At cold temperatures, oil viscosity can vary much more for a given SAE weight than at warm temperatures. You may not think 40 C is cold, and of course it isn't to a human. But, to an oil designed to operate at 125 C, 40 C is 'cold.' Depending on the oil formulation, two oils with exactly the same viscosity at 100 C might be very different at 40 C.
Gear oil and crankcase oil and manual transmission oil have different SAE weights for similar viscosity.