Oh yeah VR racing is awesome. If you can afford one, I highly recommend getting a steering wheel with haptic feedback. They have motors in the wheels that will make it pull back to center to straighten out, just like a real car does, as well as interface with a lot of the games directly so that the wheel will shake a bit as you are hitting bumps in the road. I have legitimately never been as immersed in VR as I have been with one of these wheels.
The Logitech G920 is the one I have, looks like it’s on a good sale right now on Amazon too.