The goal of Render Scaling is to render the game at a different resolution than the final display on monitor or in your VR headset.
E.g. if you set RenderScale to 50% is will render at 50% of your final resolution, and then it will upscale to it. So it will be blurry and pixelated, but quicker. If you set it upper than the final resolution, it will render at higher resolution (so will take more resource) and then downscale to your final display. the result is more crisp versus if you rendered at 100% because it act like a very good antialiasing system.
In VR it’s more complicated. I have 70% renderscale and a supersampling of 1.7 In Oculus Debug tool (or whatever you use, openXR, SteamVR Supersampling, etc.). The 70% are computed on the final resolution, so my native resolution multiply by 1.7, so instead of 100% 1344x1600, the game render at 1590x1892. Then it upscale 1.7 so that give 2272x2704 which land in final to my 1080x1200 screens per eyes, so very crisp.
yes I know, it’s hard to explain 
Edit : OUPS! I thought you asked what is it, not what is the OP settings, didn’t see you are a Forum Moderator, sorry!!! 