What does it mean for an OS to be ported to another OS? Do they mean "ported to devices that support Android"?
Android makes yearly releases. It is developed in cathedral-style. Google releases the source as a single big update. GrapheneOS is a fork. They need to port their customizations and extra software on top of the new release.
Think of GrapheneOS as being a set of patches on top of the Android Open Source Project that Google releases:
They've ported the patches to work on top of the latest release.
Well, both, probably. GrapheneOS requires a lot of framework and device side changes.
It means they rebased all their changes on top of the new version. This is usually time-consuming because AOSP is not developed in the open, so you can't do this incrementally as things change -- you just get a massive drop sometime after release.