Best car racing game

As Paul above stated, it depends on what you're looking for but there's a huge selection for you:

You mentioned your PS5 so if you want the highest graphics and driving fidelity you've got to go for Gran Turismo 7 or F1 '22. The graphics are stunning and run at a higher framerate than reality with some real meat to the gameplay. I haven't spent as many hours on a Gran Turismo game since the first one on the PS1. Project Cars 3 is another one I've heard good things about but I've never played a Project Cars game so I can't comment.

If you want a more arcade-y game Inertial drift is a really stylised racing game that has a real sense of speed when you're playing it.

The world rally championship series is worth getting into if you're looking for a more Colin McRae experience.

But if you're not too fussed about graphics and just want to play a superb racing game, then Art of Rally is just the best thing out there. It's also got the most banging soundtrack you'll ever hear in a game.