Motor oil has undergone a sea change since I started driving. I remember when the refinery first formulated "Fire & Ice" 20W/50 using zinc dithiophosphate additive. Could smell the stuff for 200 mts.
I drove my junkertoad Spirit in 122F temps using 5W/30 Castrol and never had a problem. It seems like folks like a equate higher viscosity oil with better lubrication at warmer temps but my vote goes to paying attention what is written in the owner's manual.
In very cold subfreezing temperatures my own personal opinion is to allow extra time for the engine and transmission oils to circulate freely. Perhaps a couple of minutes. Then ease into gear and creep along for 5-minutes if conditions allow it, then slowly increase speed. If I lived in Walrus Tusk NWT next to a freeway on-ramp I would modify this personal recipe.