There are 5 options on this screen.
Force feedback on
A radio button toggles the controller/wheel's feedback effects.
Uncertain, but it might set the general strength of the features. [confirmation needed]
The higher this is, the higher the controller/wheel vibrates, if it's capable of vibration.
This sets how strong the impact against objects reflects on the rumble.
Steering force intensity
The higher this is, the stronger the wheel resists sharp turns, much like a real steering wheel.