The bigger problem with steel bars might be that their diameter is usually only 22mm or 7/8" instead of 24mm or 15/16".

On old bikes where I've desired a thicker grip diameter while retaining traditional vinyl or cloth tape, I will wrap the desired tape over the old tape, which improves comfort noticeably!
And I try to wrap in the opposite direction as the previous wrap, gives a bit of extra texture for improved grip, and I liked the look.

Here's one that I did this way over an aluminum bar (vinyl over cotton), it somewhat shows up in this full-format photo: