When you land on a Planet, there should be an ability to scan your planet, and when it scans, its results will tell you a recommended party size so you don't just run out and get yourself killed. You can go out still if you chose, but it will suggest against it.
I guess that will be the Threat Level meaning, right? The only thing the TL does not make is recommendations, but i guess in modes as Easy and Hardcore, that would be a necessity...