Comparing playing GT7 on PS4 and PS5 (which I did a lot of, switching back and forth since online is split and half the people I regularly raced with stayed on PS4) it is definitely a huge enhancement. On PS5 I can tell what kind of kerb or edge the wheels are touching, while on PS4 it feels the same. You can also feel the transmission, as well as traction through the triggers.
So yes it's sort of game changing as racing on PS4 I rely on the sound (turn up the tire squeal) to drive on the 'edge' while on PS5 I can do it without sound.
More feedback is always good. Even the simple headset rumble (PSVR2) is missed when not used. Haptic feedback is great.