What do the color values mean?

[BASEFlow 2]

They don't seem to match up with actual HSL values and I'm not sure what the numbers mean

[marioho 686]

I have yet to test it since 1.09, but I don't remember having much trouble to get the colors on the right ballpark just by eyeballing the scales on Coolors. Most of the times I see people mixing up HSL and HSV scales, but now that we have actual values it will be interesting to see how discussions shape out. 

Would be helpful if you could attach some screenshots to show what you mean. 

[Ultra3142 384]

The main point of the numbers is to allow people to select matching colours in different locations. With this in mind it doesn't really matter what the numbers actually represent, just that they form a reproducible reference.

[TurkeySloth2107 77]

Hue is where on the color wheel in degrees the color is, noting that red is meant to wrap around approximately evenly; saturation is how much of the hue exists in a given area as a percentage (CM did 240 as max when the number would be 255 at 100%); and lightness is how light or dark the color is as a percentage (again, CM used an integer for some reason). Yet, as stated in the topic below, I don't think the hue silders are all positioned in the same place, at least, for the liveries.

 

[KNT2011 215]

Yet to play with it, but I typically found the values to be inverted previously, likely why it's not matching up for you. 

[Blent 104]

To convert from HSL to F1 2020:

Take the Hue value for your colour and divide by 1.5

Take the Saturation and times by 2.4

Take the Luminance and times by 2.4

That should give you the closest equivalent colour in the game