It is the de-facto option now on PC if you are into arcade racing.
I had spent time with the DiRT and GRID series over the past few years but there has been nothing revolutionary over there for quite some time. The Codemaster F1 series also caught my attention in the beginning but I wasn't enticed with the minimal year-on-year changes and haven't played any of them over the past 3 years.
I did try out Project Cars, Assetto Corsa and rFactor 2 but they require proper sim racing equipment and don't have the flair or structure of the arcade games.
Incidentally haven't purchased FH4 yet, but played it for over 5 months through the different Game Pass trials. Will finally pick it up during the Steam sale later this month as I suppose the deluxe edition will be around 1k, probably less if Steam issue coupons for this sale as well.