EA/Codemasters have the official licence for Formula 1 and will probably keep it for some time to come. However, their F1 series of games, despite having really good graphics, all of the official tracks, cars, drivers etc., aren't exactly a racing sim. It falls short of proper sims like rFactor 2, Assetto Corsa Competizione and iRacing, and the usual bugs that the game gets released with every year don't help its cause.
The good news is that EA/Codemasters aren't the only ones with official F1 content. iRacing recently introduced the Mercedes-AMG W13 E Performance F1 car to their service, which races in the iRacing Grand Prix Series.
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