F1 and automotive more broadly make use of all sorts of software to help their engineering.
The domains of Computer aided engineering are massive.
There’s FEA optimisation to design stiffer, lighter parts.
There’s CFD to design more aerodynamic surfaces optimising for a whole host of goals (drag reduction, downforce, air management, cooling)
There’s kinematic software to analyse the chassis-suspension system to understand behaviour in various scenarios (cornering/braking/accelerating)
There are multi disciplinary software that ties all this together (how does my suspension system in cornering impact my downforce and vice versus it’s a tightly coupled relationship)
The Non linear dynamics of suspension and tyres are pretty complicated (grad level mechanical engineering topics)
All of this is supported with modelling software, some of it third party, some of it homegrown.
All of the engineering simulation ultimately is piped into lap time simulation for a given track layout and variables can be tweaked to drive the optimal setting for that given track, car, driver, weather, etc.
The dance of F1 / race car design is given the regulations, time, budget, and other constraints how do you optimise for a host of non linear, chaotic, dynamic bits of physics, while making the car drivable for the specific driver.
Few people (Adrien Newey, Ross Brawn, et al.) can map out a vehicle concept completely, and then translate that into the efforts of 100’s of engineers to ultimately have a manufactured car ready to race.