I know it's far from the most realistic thing out there but could the physics model cope with loop to loops and being upside down? I've played Forza with the Hot Wheels expansion but I feel that the physics are more 'arcadey' than realistic. Plus Forza doesn't allow modding which reduces the number of potential futuristic race cars. Part of me also feels that having realistic physics (kind of funny considering the loops) would add another aspect to racing on such crazy tracks. Essentially Wipeout style tracks. I'm nowhere near that level of modding, I'm only just starting to learn how to create mods. Also. Who would be interested in it if a track came out?
I've seen this demonstrated once in rFactor 1 where the car stayed on the track throughout the loop. I don't thing that it would work on the pace laps though and I have no clue how rFactor 2 would respond to it. Since physics is essentially just a ton of math, I don't think that the simulator would crash or anything funny like that. As for interest, I'm sure that the more casual sim-racers may have quite the interest in such a track. As for the hardcore sim-racers, you might need to give the loop a strong supporting structure if you want to have any hope of deterring harsh and (probably) unconstructive criticism.
I made a similar thread 5 years ago https://forum.studio-397.com/index.php?threads/can-you-drive-an-f1-car-on-the-ceiling.33699/ A modder even made a test track with tubes and loops to test if possible. To your question could the physics model cope with loop to loops and being upside down? No
Make sure your loops are Euler spirals. That'll make it easier for the car to complete them. Unless of course you can stop the car upside down and the car still sticks.