If you're after a fun, pure racing single player* game that has lots of cars, lots of tracks with easy access and fairly realistic handling (that's very well optimised for controller), then PC3 is certainly a good game. Especially if it's on sale with all the extra DLC. And on PS5 everything runs much smoother with the graphical fidelity being improved - don't expect GT7 levels though.
*I mentioned single player because the multi player aspect is... quiet. The online Rivals mode is good though.
If you're after a title that simulates Motorsports more fully then it'd be best to look elsewhere, PC2 would be a better choice. Although that's not quite so easy to jump into.