Application of a specific torque to a nut, bolt or stud is purely a means of applying a roughly controlled amount
of pre-tension (stretch) in the bolt/stud.
This pre-tension, dependent on the application, bolt/stud length, thread specification and materials in question,
will be sufficient to ensure correct tightness but be within the limits which would be required to snap the bolt or strip the thread.
This all applies to, for instance, the likes of casing bolts, cylinder head studs, bottom end bolts etc etc where two components are being forced together.
I use the words roughly above as the accuracy of this pre-tension is certainly effected by friction between the threads.
The exception to all this would be the likes of a sump/spark plug which is more akin to a plumbing application where you need
enough tension to crush the washer to create a seal AND to ensure it doesn’t fall out/pop out due to vibration etc.
It also importantly ensures you dont strip the thread.
What you’re not doing in this case is pulling two separate pieces of material together i.e a cover to an engine casing.
Torque wrenches etc are fine for use on small applications such as bikes and cars/trucks etc, but when the application gets bigger
then the means of applying this pre-tension differs due to the higher tensions/increased stretch required..
Generally hydraulic jacks are used to pre-stretch the studs in an axial direction (no turning involved), then the nuts are tightened purely by hand.
But that’s a different subject entirely!!
Loctite and the likes only “goes off” (sets) after the pre-tension is applied.
While it is still in its liquid form it will act as a lubricant.
This aids in ensuring that the specified torque is accurately applied in that increased friction is not a factor which effects it.
So I guess that, in answer to the question, any medium which reduces friction will ensure that the correct torque is more accurately applied,
without risking snapping the bolt or stripping the thread.
Every effort should always be made in ensuring that the threads (both male and female) are as clean (and well lubricated) as possible and are also without damage.
All a bit long-winded I know, but thats me!!..................
V.