Type 99 AT grenade good enough against Shermans?

Can it penetrate the side of all Sherman variants?

Vs non Jumbos yes, however it can struggle with the armour plate covering the ammo on the sides of the sherman so dont expect a one shot, ideally an engine shot followed up with an explosive charge is the best combo.

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Duly noted. It’s kinda unfair that VPGS can easily one shot everything it faces but I blame Germany for that. I was very surprised when my VPGS one shotted everything on it’s BR

YES.
shoot ammo rack for one shot.