I suggest you hold off until your life slows down a bit, seriously lol. I really dig this game, but it's a crazy time suck unless you halfass it. You can simulate practice sessions, quali, and fast forward through the race, but I'd only recommend that if you're taking over one of the top 3 teams. I think the fastest someone could simulate all three practice sessions, quali, and fast forward through the race would be about 20 mins. I'd say I'm making it through a race weekend in about an hour and a half at my quickest. Depending on how the race goes.
You don't need to actually sit there and watch your cars practice for an hour, but if you just simulate it you lose the ability to work on your car set up, the drivers don't get track or set up experience as fast. I pull up practice, put both cars on hard tires, tweak the set up and let them run 20 laps. (I speed the game up to 16x for those 20 laps) then call them into the garage and tweak some more. My first season, I managed FP1 and simmed FP2-3. I noticed much more driver and car development by managing all three. Figure about 45 mins to run all three, but I'll do other things like clean the pool, do some dishes, and the cars are in the garage by time I get back.
Quali is decent fun, I'm currently trying to figure out how to time it right so I'm not doing my 2nd run in traffic.
For the race, I watch the first lap from an on board camera of one of my cars. Then I speed it up to 8x and monitor weather, tire deg of us and everyone around us, fuel, ERS, and start working on pit strategy.
"During the week" you're designing new parts for this years car, manufacturing those parts, keeping facilities going, researching parts for next years car, scouting drivers and staff.
One of these days when I have a bit more time, I'll go a more in depth if anyone's interested. Very well worth the money, but not sure if it's worth the amount of time I'm spending on it haha. This was the first weekend I've had in 2 months where we weren't traveling, or didn't have house guests, and it's the last weekend for the next month. I spent most of it chilling on the couch trying to get Haas on to a podium haha.