The wheel upright houses the wheelbearing(s) and the hub (on which the Brake disc and the wheel are mounted.
the Brake caliper is bolted to the upright .The upright is connected to the chassis thru upper and lower wishbones (the horizontal struts ) and the pushrods(diagonal strut connecting to the springs dampers).The steering links are connected to the Upright directly or thru a plate (called steering arm).
On the inside of the upright we now see the brake cooling drum and ducting/scoop.
Uprights used to be magnesiumcastings ,and evolved into fabricated work of art in recent times ,made up of virtually 100s of small cromoly steel pieces welded together,incridibly stiff and light as well.Some teams even fabricated titanium uprights.
Now with new casting methods titanium castings found their way in and Mclaren is believed to employ MMC castings for their Uprights.