How to reference step output in a subsequent step if clause

test-step-output.yml

name: Test step output

on:
  workflow_dispatch:
    inputs:
      fail_value:
        description: 'Should fail on > 40'
        required: true
        type: number
        default: 0
jobs:
  fail-on-step-output:
    runs-on: ubuntu-latest
    steps:
      - name: set some output
        id: out
        run: echo "foo=${{ inputs.fail_value }}" >> $GITHUB_OUTPUT
      - name: fail on output
        if: steps.out.outputs.foo > 40
        run: exit 1