A few tips from my personal experience:
- Stay away from 1st and 2nd gears if you can help it. The insane power that the turbo generates, along with its associated lag, is Wheelspin City if you're not adequate enough with throttle control. 3rd gear can help nullify most of the wheelspin. Also since you are already in 3rd, it gives you a little boost over the other cars since you don't have to shift from 2nd into 3rd or 1st into 2nd. I did these races with the car running Racing Hard tires, but if you use softer tires it should be easier.
- Consistency, consistency, consistency. If you don't know the track, and you make a mistake with a car as powerful, as fast, and as dangerous as this one, you'll get no remorse and will be punished badly. Trying to make up distance from a gap caused by a mistake is an almost guaranteed restart, since getting back on the course wastes so much time itself.
- Consider setting the transmission gears wider so you can spend less time shifting into the upper gears. There's a noticeable slowdown as the car changes gears, so with wider gears (and a higher top speed), you can get a jump on the other cars as they're busy shifting gears upwards. A wider transmission setting will also help with the wheelspin since the huge boost of the turbo gets delayed with wider gears. Keep in mind though that if your transmission gears are wider, you lose out on acceleration slightly due to the car's downforce, but control and consistency is ultimately more important than speed for this car in my opinion.
- For Suzuka Circuit, on the last few turns (Casio Triangle), if you have an opponent behind you before you approach the final low-speed turns, consider slowing down and letting him pass you. For some reason, the opponents' AI gets really pissed-off if they are behind you, and as a result of this, they will brake extremely late, punt the backside of your car, and send you straight into the barrier, while they seemingly continue the race without any punishment, all because they absolutely want to pass you. If you were to try this yourself, you'd go off the course, but not into the barrier, but still enough of a punishment to affect your position. The only reason why the AI opponents get away with it is that they have grip multipliers that kick in if they brake too late, so it reduces their speed enough as they brake to continue driving normally, and in essence, they "use this to their advantage" when trying to pass you at a turn. Grip multipliers are no new concept for Gran Turismo, so it's no surprise they're back and more dynamic than ever for this game.
- Despite the AI opponents' advantages, they don't know how to effectively drive on some parts of some courses, with the most notable example being the S-curves at Suzuka Circuit. You can use this to your advantage to close the gap on your opponents and (attempt to) pass them. Be careful, because it's easy to make contact and punt one of them due to their slow driving around those parts of the course, and most of the time, you'll end up going off the course with them during a collision.
In general, though, I'd say that consistency is the most-important concept for this event. The same can apply for the Mercedes-Benz W01 event as well, except you don't have massive turbo lag and power to deal with.