Fortunately I have a solution, which I have reproduced about 3 times now with different driver versions and Windows versions.

Quit the game and launch the Fanatec driver program.
Calibrate the main pedal and wheel inputs (Function Test)
Tab over to show the settings. You will see a Wheel Angle of ~400 degrees. Drag this all the way up to 900 and Apply/Save/Exit.

Launch the game, go to Options > Controls and you'll see the wheel now detected as the CSR Elite. Go through the game calibration wizards again and set your button assignments. Save these and quit. Start again and verify the changes stick.
You are ready to race.