There's no bloody security chip required. Thrustmaster's wheels are all compatible with every PS4 racing game, and only the T80, T150, and T300 are fully compatible with PS4. The T100 and T500 don't work in the PS4's menus, only in game like our Fanatec wheels used to. The difference? Fanatec never used to have an official PS4 wheel. Now that they've got one on the horizon, they've dropped support of their old wheels to try to force people to buy their new official one.
Like I said previously, Logitech did the same thing, but they at least were open about their plans when this console gen began. Nobody was suckered into buying a G27 for PS4, only to have PS4 support dropped right before the G29 came out.