Nope, the 488 Challenge EVO is a PC exclusive car that's only available to those that signed up for the Ferrari Esports Series. (A lot of people including me just signed up to download the car and nothing else).
That's actually a good question. Did this most recent update activate the car for those that hadn't received it in the past?
While it's still being worked on (as weather as a whole is in development), yes it does. A toolset adds in extended physics that gets the wet track working, as well as extending and adding to the base physics of AC as a whole.
This video covers what its capable of outside of weather