I have an Elite PS4 wheelbase, with V3 pedals and the wheel I use is the Porsche RSR. But it is NOT FULLY COMPATIBLE. Because on GT Sport - the most popular Driving Sim on the PS4 - the wheel is not recognised by GT Sport. So the buttons on the wheel mostly are useless. The right hand went works though ... and the reverse button. Another button escapes too. The left hand wand doesn't do anything. The gear shift levers do work.
Also if you spin the wheel can disconnects from the game, and you have to restart the wheel during the race. Its like the car is almost stuck in neutral - you rev the engine but the car hardly moves forward, it just spins the wheels. TC makes no difference to its behaviour.
Its certainly not properly compatible with GT Sport. If the wheel was properly compatible, the game would recognise the wheel on its controller settings setup page. But the wheel is not there.