Ran this event for the first time today and got Gold after a couple hours of trying with a time of 7'02.027. I had already gotten gold on the individual sector events, but the full lap is a tough challenge because any big mistake and up to 7 minutes down the drain

Here are the splits:
S. Time.. Split
01 46.239 0'46.239
02 33.623 1'19.862
03 28.035 1'47.897
04 50.872 2'38.769 👎
05 37.570 3'16.339
06 25.869 3'42.208
07 49.721 4'31.929 👎
08 34.501 5'06.430
09 28.807 5'35.237 👍
10 41.744 6'16.981
11 22.052 6'39.033
12 22.994 7'02.027 👍
Definitely a couple of mistakes on this lap otherwise I think it was a 7 minute flat. A half second mistake in 04 when tail slid out trying to duck underneath another car in a corner, but saved it without leaving track or too much damage to momentum. A larger mistake in 06 when I went wide on a very fast section to pass (2 cars almost side by side) and caught some grass and flung into wall, but kept momentum and returned to track quickly. Definitely cost a bit in that sector, but actually cost me more in the following sector (07).
I didn't cut any corners and always kept 2 wheels on track except for the incident in 06. It's technically a "dirty" lap since I left track momentarily, but the off didn't help in any way (it hurt). I'll probably attempt to get a 7'00 at some point, but for now happy just to get gold. I blew many better laps in the last couple sectors

and relieved just to bank this one.
Anyway, with the splits above you pass most of the other cars at good spots. The one tough spot is when you go by the two cars at once in 06 and they are taking up most of track. A tiny bit faster to that section and you can pass them at an easier point (straight before the kink that sent me off).
So you don't need a perfect lap to get gold, but you probably need to build up some cushion with some good early sectors in order to make a mistake. Also that final split of 22.994 was pretty much error free and all out so probably made up for my mistakes there alone.
Edit: TCS: Off, ASM: Off, ABS: 1, brake bias: 5/7, Manual Transmission.
If you use the driving line there are a lot of corners you should be in gear 3 instead of the recommended 2... keeping momentum on this track is key, as someone else said they are almost all high speed corners.