2016 version of F1 is out for few months and I've just done my version of FPS fix for the game. The shadows are a little bit more blurry than on the screens. In 2015 you weren't able to change graphic settings in the game with this config, now you are! Change whatever you want to change but, you cannot change it back to custom!!!
CHANGE THE RESOLUTION IN THE GAME, 1280x720 IS USED IN THE CONFIG!
Just copy and replace the file into "\Documents\My Games\F1 2016\hardwaresettings"
You don't have to backup the original one... If you run the game without that config, it creates one.