It's never that V-Rally 4 is actively bad, but the 16-year wait since V-Rally 3 is no way near worth it. No part of the overall experience surpasses the benchmarks set by more polished, mechanically complex, spectacular or enjoyable racing games from both the arcade and sim camps. Even compared to the universally disappointing Dirt 4, V-Rally 4 feels like it's missing more than a few tricks.
With F1 2017, Codemasters has reached that stable plateau you see from established sports franchise like FIFA or NBA. This is by no means a major overhaul – if you've bounced off of these types of racers before, F1 2017 won't try to re-convince you of any merits. But nor should it need to.