The Hori Racing Wheel 4 is official licensed by the SCEA; so you don’t have to worry about it not working after every new firmware update on the Playstation 4. Some of its features include large foot pedals, paddle shifters, programmable buttons, rubber grips and share button integration. The new steering mode made specifically for the Playstation 4 also ensure games that they will have the “ultimate driving experience.”
The Playstation 3 is compatible with Hori Racing Wheel 4 too even though you obviously can’t use the share button (or other features). The probable shipping date for the product is on the 1st of September. So it should be available for new racing videogames like Drive Club.