Apart from the Assetto Corsa franchise, I haven't seen a single UE (or 5) based racing game yet, arcade or sim, that is good or critically acclaimed.
Even that recent indie drifting game, Japanese Drift Master (or something), seems to be underwhelming.
These guys are shooting for the stars. They can because of the talent they have, but MS and Forza Horizon being their main competitor seems a little too much.
Beating out Turn 10 and main sim series seems to be a big task in itself, but Horizon? It's the only Xbox IP that has literally 90+ MC in every iteration from the start of the franchise a decade ago.
Unless you're Sony, Nintendo or a big pubslisher, it's going to be a near impossible task, at least from a marketing standpoint.
Their only hope is for the game to go viral by word of mouth/streamers and then the world takes notice.