A worn out PS4 controller trigger limited the amount of throttle.
I have completely edit this post
I originally thought my game was bugged but this turned out not to be the case. After some people on reddit and Youtube told me they had similar issues with their cars not reaching their max speed caused by a worn out trigger on their PS4 controller, i tried a new controller for myself and it fixed the issue.
It caught me completely off guard though, as my controller was only a year old and in any of my other games that involved driving i had no issues with the controller at all. I'm also someone who takes care of his things and i don't take my rage out on my controller when i get frustrated with a game. Even now when i compare my new controller with my old one there is only a slight noticeable difference in resistance when pulling the right triggers. I never considered a worn out trigger as in all my console gaming history it has never occurred that a trigger had worn out on one of my PS3 and Xbox 360 controllers.
If you are running into the same issues as I did on the PS4, i strongly suggest trying a different controller even though the controller seems fine.
Some footage i made when i was playing with a worn out trigger.
Hi @HABBEKRATS @Damoderp,
Thank you for updating us on your situation and clarifying on the solution.
Thanks to you I will be able to help other users who ran into the same problem but which we did not yet have an answer for. I have tagged our Live Quality department as well here so they are updated on this.
I hope meanwhile you got back to enjoying the game. Thanks again!