Game engine

Actually we cannot tell yet.

Unreal Engine 4 is also supported on PS4 and XBox-One since 2014, so using it would not eliminate those platforms.

Another clue: on the offical page there is no disclaimer for EGO as it was in F1 23

F1® 23 – Offizielles Produkt der FIA FORMULA ONE WORLD CHAMPIONSHIP. © 2024 Electronic Arts Inc. EA, EA SPORTS, das EA SPORTS-Logo, Codemasters, EGO und das Codemasters-Logo sind Handelsmarken von Electronic Arts Inc.

F1® 2024 – Offizielles Produkt der FIA FORMULA ONE WORLD CHAMPIONSHIP. © 2024 Electronic Arts Inc. EA, EA SPORTS, das EA SPORTS-Logo, Codemasters und das Codemasters-Logo sind Handelsmarken von Electronic Arts Inc.

Additionally, it is still not officially confirmed that it will be on PS4 and XBox-One (at least not that I am aware of). I posted links on Amazon where you could see PS4-Versions of F1 24 in another thread in this forum, but these were only up for a couple of hours. So maybe they were not official and a mistake:

https://answers.ea.com/t5/General-Discussion/Let-s-watch-out-friends/m-p/13517709/highlight/true#M13903

EDIT: I just see that the links are back again today.... so may be this is the confirmation it will really be on PS4? But still this would not say they they did not switch to UE4 ....   but it eliminates UE5 ... ;-)