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I'm not the PCF team but I can say that I've not been able to get a field value bound to a dataset control.
What I've ended up doing was using a webapi request to retrieve the value from the form that way ( you need to read the dataset to get the entity and (context.mode as any).contextInfo to get the guid of the record the grid is on.
For functionally realize what u need, the dataset results will be updated based on an attribute(lookup attribute) change, it's more like the quick view form scenario and Dynamics do have a OOB way for this
You could create a quick view form and have the subgrid on it. Then the subgrid should listen to the quick view form's bound lookup value update.
Regarding PowerApps Component Framework solution,
Please note, a control with a bound property and a <data-set> is treated as a field control, not a data-set control.
But even it's a field control, I guess you could have <data-set> as 2nd propery and do request and render. Visually it should be similar to a traditional data-set control