Let me outline how you can prove directly that if a manifold admits an $(r,s)$ metric then the tangent bundle admits a direct sum decomposition into a bundle of rank $r$ and a bundle or rank $s$.
Start with the linear algebra. Given a vector space $V$ and an $(r,s)$ metric $h$ on it, we would like somehow to decompose $V$ into a direct sum of two subspaces $W_1,W_2$ of dimensions $r$ and $s$ respectively. A natural thing to do is to try and take $W_1$ to be "the" subspace on which $h$ is positive-definite and $W_2$ to be "the" subspace on which $h$ is negative-definite. The problem is that there isn't a unique subspace $W_1$ of dimension $r$ on which $h$ is positive-definite so we need some way to choose such a subspace. We don't want to do it arbitrary because we want to carry this construction on the tangent bundle on each fiber and there we will want our choices "to vary" smoothly so that we actually get subbundles.
Choose an arbitrary auxiliary inner product $g$ on $V$ and represent $h$ as a self-adjoint operator on $V$. Namely, there exists a unique $T_h \colon V \rightarrow V$ such that $g(T_h v, w) = h(v, w)$ for all $v, w \in V$. Now we can take $W_1$ to be the subspace of $V$ spanned by the eigenvectors of $T$ associated to the positive eigenvalues and $W_2$ to be the subspace of $V$ spanned by the eigenvectors of $T_h$ associated to the negative eigenvalues. The choice of $g$ eliminates the arbitrary choice of subspaces and gives us a unique direct sum decomposition.
Now apply the above argument for $TM$. Choose a metric $g$ and represent $h$ as a self-adjoint operator $T$ (so that $T$ is a $(1,1)$-tensor). Denote by $W_1$ the subset of $TM$ such that $W_1|_{p}$ consists of the span of the eigenvectors of $T|_p$ associated to positive eigenvalues and similarly for $W_2$. Since $h$ has signature $(r,s)$, each $W_1|_{p}$ is of dimension $r$, each $W_2|_{p}$ is of dimension $s$ and we have a direct sum decomposition $W_1 \oplus W_2 = TM$. Argue (this is the subtle part) that $W_i$ are in fact smooth subbundles of $TM$.