did you install gpxpatch 4.52 ? you must run the game through gpxpatch.
about graphics; have a look at the gp4 faq (1st page in this forum) and also have a look at your f1graphics.cfg (you open it with editor).
it takes a bit of time to conigure GP4 when you're new to it, but once you got it, you'll have a lot of joy. and i can assure you that it fully runs on win10 and modern spec pc's. just takes a bit of time to set it up properly.