Having experienced the demo for the PS4-exclusive DriveClub at E3 this year with a racing seat and a racing wheel peripheral, I can safely say that pairing a wheel with the game is the primary choice.
By way of the official PlayStation blog, Evolution Studios has announced that the game will be compatible with all current racing wheel peripherals for PS4. This means that the Thrustmaster T80RS and T300RS will be fine-tuned and ready for the game's release on October 8.
I gave the Thrustmaster T80RS a fair 3.5 stars in my review in July this year, though the T300RS at around four times the cost of the T80RS will be better for sure since it has force feedback and metal foot pedals. However, and this is not Evolution Studios' fault, the more high-end Logitech wheels like the G27 and GT3RS v2 have yet to be compatible with the PlayStation 4. The only thing that the developer can do is promise to add support if perhaps Sony and Logitech can finally come to terms on hardware compatibility.
Apparently, according to Logitech, any device that have high polling rates require a special chip to operate on the PS4, while Sony says that Logitech hasn't sent in the drivers they need. Many, many fans in the comments are disappointed that no solution to this problem has yet been found.