It's basically the same as aow3. Every effect that can proc a status effect lists a Strength.This is compared to a target units Resistance to get the chance of the status effect proccing. Units have a baseline resistance to all status effects that depends on their Tier. This is then modified by any specific damage resistances or weaknesses to the damage type (aka channel) of the status effect, and then further by any specific status effect resistances or weaknesses to that damage type.
So a machine unit with Arc Weakness and Psi Resistance is highly vulnerable to Arc status effects like Electrified, but highly resistant to psionic status effects.
Some unit types are immune to some specific status effects, like Mindless units cant be affected by psionic mind control.