Balance between armor and encumbrance depends on your weapons. If you’re using fast-attacking stuff like combat knife or tanto, you should keep it low, preferably below 20.
If you’re using heavy stuff (currently only katana, nodachi, broad sword and zweihander are worth using out of the heavy stuff), you want heavy armor, but still less than 40.
Non-military turrets suck and can be reliably stopped by 100% coverage 20 cut armor. This is not hard to get, especially if you (ab)use the (imbalanced) tailor’s kit.
Military turrets are dangerous with anything except power armor. Even light power armor is too weak to be safe around those.
Survivors can have any weapon ranging from .22 (too weak to penetrate cloth) through rifles (like military turrets) to flamethrowers (not even power armor will help you here).