yet again I am astonished at how useful the LogParser utility is, when delving into SharePoint performance and troubleshooting.
Looking into PSCONFIG logs to spot errors turns out to be surprisingly simple.

First example displays the fields in the file, to ensure we have the right bits.
Second example queries if column 3 has ERR instead of INF.

Note that if you copy these out to a TXT file, the quotes are probably broken, so re-type the minus and the single and double quotes if you are failing.

 LogParser -i:TSV  "SELECT * FROM C:\TEST\PSCDiagnostics*.log" -nSkipLines:1 -headerRow:off -iSeparator:space -nSep:2

 LogParser -i:TSV  "SELECT Field3 As Status, Field4 as Description FROM C:\TEST\PSCDiagnostics*.log WHERE Field3 LIKE 'ERR%'" -nSkipLines:1 -headerRow:off -iSeparator:space -nSep:2