The values you set in the cars setup are the starting pressure of your tyres (otherwise known as cold pressures). Tyre pressure will change as you drive, and also vary depending on ambient temperatures, tyre temperature and the weather conditions.
Set the starting pressure in the cars setup so that after a few laps of driving when the tyre pressures stabalize at their hot pressure, they sit within the following ranges:
Where in that range you target for the hot pressures is mostly down to personal preference. Slower and tighter tracks may benefit to be lower in the ideal range, and faster tracks with more high speed corners, or tracks with large aggressive curbs, may benefit to be higher in the ideal range.
Avoid being outside of the target hot pressure windows where possible as it will negatively impact the tyres grip. For some situations and conditions, you might beneift aiming to be outside the typical hot pressure ranges for later in a stint. For example:
Pro Tip: Pressures will be impacted by ambient temperature changes, roughly at the rate of 0.1 PSI for every 1 degree C.