Horizon Chase Turbo from Aquiris Game Studio ticks a lot of the right boxes and it continues to see some good support after release.
The first 2019 update includes a new car "Cable Guy", up to five new selectable colours for each car along with various performance and stability improvements. They also added a Russian translation too.
I don't want to overstate it, but this might honestly be my favourite retro-inspired racer.
Horizon Chase Turbo thoroughly reminds me of some of the greats back in the days of the Amiga. Nostalgia can be a truly powerful thing, but in this case it's not just memories pushing me along as it's genuinely good fun. My son loved it too, it's great for a wide audience as it's quite an accessible racer with such easy controls and kicking back with the Steam Controller has felt fantastic.
If you've not played it, you're in for a treat as the legendary Barry Leitch (Lotus Turbo Challenge, Top Gear and a great many more) also did the soundtrack for it. It's a fantastic soundtrack too, goes very nicely with it.
It's going to sit along the top of my favourite retro racers for a long time, going to be heard to beat. Performs well, looks damn good and it has local multiplayer too.