Yes, in this sentence, "find" means something like "to perceive", "to experience", or "to feel" in a mental or emotional way. It's often used to describe how someone reacts to or experiences something.
For example:
I find this book very interesting. (= I think this book is interesting.)
She found the test quite difficult. (= She thought the test was difficult.)
So in your sentence:
➡ "You may find the content very upsetting."
means "You may feel that the content is very upsetting" or "You may experience the content as very upsetting."