"Thankfully, F1 Manager 2022 will be an extremely long experience. As stated in the Twitter Space there is "almost not a limit" for the number of seasons you can play.
In short, as long as you keep the board happy and achieve your targets then you can keep playing on and on and on! This means you'll also have to think ahead, manage budgets for future seasons, and develop long-term strategies.
Regen drivers & staff
Part of this is because as drivers and staff members retire, a pool of "regens" is created that enter the game. This will be in the form of new F3 drivers and up-and-coming members of staff. While there are real-world personnel and drivers, these will be replaced by fictional drivers and staff after they retire."
F1 Manager 2022 will last for as long as you stay in the job!
racinggames.gg
Very Football Manager in its approach there. No mention of engine deals or anything yet, I'd imagine due to licensing this won't be possible. Perhaps for the next iteration with a custom team it will be. Or even managing an F2 or F3 team to F1.