However, it looks like if you own NASCAR Thunder (or install the demo) you can steal one of its files, and the mutant game will work. Paraphrased from this forum post and another:
Open the folder where you installed NASCAR Thunder, copy 3Dconfig.exe, paste it in the folder where you installed NASCAR Simracing, and rename it 3Dsetup.exe. Then run the 3Dsetup program. Make sure you've downloaded all the upgrades.