Well, if you have a good TV you use for your xbox, it might make sense to use it with your PC. That'd leave a significantly bigger budget for the PC. Do you plan to do anything else with the PC?

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For just an iRacing PC using the TV and a 1k budget:

https://pcpartpicker.com/list/VpPP9J

and get one of these:

https://www.bhphotovideo.com/c/product/1364658-REG/lenovo_g0a20001ww_explorer_mixed_reality_headset.html

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For just iRacing and with a monitor:

https://pcpartpicker.com/list/8bJhGG

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If you have some other uses, it may change the recommendation.

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