The T500 RS is on our list of officially supported peripherals for the PS4. That implies that this wheel has been tested and proven to work. Make sure you have updated the firmware for the wheel.
I did update the firmware , and issue still persists , I doubt it has anything to do with that anyway , since the whole game just stutters ( I mean fps drops and audio stutter ) , and the wheel aint working right , only pedals do. I gotta steer with the arrow keys on the left ,, steering wheel itself doesnt do much.