Fortunately, I can do both
On my desktop I can run at 1440p/72fps with everything on Extreme.
From my experience with the game so far Xbox One X Performance mode is great, the framerate more than makes up for the disabling of some graphical options.
I have made up my decision on how to play as well. Since my 2012 gaming PC is seriously aging now and my X1X is my main platform, this is what I will do:
* The first few weeks is singleplayer focus anyway with the many oohs and aaahs for the graphics. This period I will play in 30 FPS / 4K mode with the best graphical immersive experience on X1X. I'm not hindered with the 30 fps for my eyes anyway since my Samsung TV (when
not in gamer mode) does some awesome smoothing of the image, no 30 Hz flickering whatsoever and in turns the trees look absolutely nice in motion. Biggest downside of this way of playing is the highest possible input lag combining the worse of both (30 fps console and bigger input lag on the TV), but it looks gorgeous.
* Once I've consumed most singleplayer content and I want to focus more on online racing, then I will swap to the 60 fps mode and put my TV in gamer mode. The TV won't do all that nice processing anymore to clean up the image but the 60 fps from the game will still give a smooth visual experience, in turns in motion it does actually look slightly worse than the 30 fps with the TV at work. But in this combination I will have the fastest possible input mode combining the best of both there (60 fps console and TV in gamer mode).
I have been testing out these combinations in the demo and the difference in my skill level is absolutely massive due to the faster response and not having input lag. I have played all of FH3 with my TV not in gamer mode, it looks amazing, never any 30 FPS feeling but with slower input lag. Actually I never knew any better.
Now in the FH4 demo the difference between both is either beating the unbeatable AI (60 fps and gamer mode TV) or else finishing top 3 / top 5 against them. Even on the very beginning of the opening race in the Senna, it's a walk in the park in 60/gamer mode but in the other combination - while looking visually great - I have to focus my best predicting the input lag to not hit a stone wall or another car.
What I sure learned this last week is that it's not just about the console and 30fps/4k vs 60fps/1080p but if you play on a TV your TV's image quality processing make a huge difference as well.
edit: - what I am actually missing is some sort of an image quality setting for FH4 X1X. You know, 30 fps, 1080p and then those sliders from my earlier screenshot further towards extreme.
It would be useful for people who don't mind the 30 fps but who only have a 1080p TV anyway. Project CARS 2 also has those 3 similar settings on X1X where you choose between performance (60 fps), resolution (4K) or quality (ultra/extreme settings).