Phil Savage wrote about an interesting looking racer back in 2015 called Formula Fusion. Based on footage released then, it looked like the Wipeout clone PC has always needed. Fast forward two years, and while it's unfortunate that we live in a more terrifying and hostile world than ever before, at least this game has finally released.
It's out on Steam right now for $19.99, and features 8 tracks, 5 "fully customizable" vehicles for which you can tweak weapon load-outs and handling. Each track has night and reverse variants as well, culminating in "30 racing scenarios".
Meanwhile, there are six race modes in the form of quick race, time trial, clean, speed lap, elimination and endurance, in addition to a singleplayer campaign. It supports multiplayer as well, of course. I haven't tried it, but that launch trailer embedded above looks promising. Here's the Steam page.