@GazzaGarratt Assuming that the menu system is the same on console as it is on PC, then when you go to practice there's 4 vertical panels at the bottom; Session, Realism, Opponents and Results.
In Session I'd suggest setting wind to none and track surface to optimum. Then in realism, set mechanical damage off, tyre blankets on, fuel consumption off and tyre wear off.
The rest is up to you but the above should give you the best hotlapping settings.
@G_dub52 tagging you in too as I know you're new to this too.