EU courts are the judical oversight, and the EU parliament can remove the commission at any time (legislative oversight).
Corruption isnt just taking bribes. Urusula’s comments are akin to coercing voters into voting against their preference and are a clear violation of treaties whereby the eu has no right to intervene in the sovereign voting process of member states. Its not like italians were bribed or forced into voting a certain way. That means ursula is abusing a position of power in favour of certain political parties with the threat of cutting funding if their new leader isnt docile enough. That is corruption and the perfectly fine eu courts will never sanction her for it.
"We'll pay close attention if you stick to the laws" is pretty much the worst the commission can really threaten a government, which isn't really all that much if there is nothing serious to punish.