This is version 2.1 of F-MIN INFINITY, a sprite-scaler 2D/3D racing game by mpulip for Windows 95. You could describe it as Power Drift meets F-Zero.
The copy of its homepage in Wayback Machine was incomplete, as were direct links from an old feature on Vector, so it took a long time to find a copy of the .lzh archive file. Eventually I managed to locate it in an archive of an obscure old type of listing page on Vector.
Update: in order to get it to display correctly, activate the following Compatibility settings on the main EXE:
- Compatibility mode: Windows XP SP3
- Reduced Colour mode: 8-bit (256) colour
- Run in 640x480 screen resolution
- Disable full-screen optimisations
The game includes help files as HTML, the ability create your own tracks, and source code. Let me know if you have more luck running it than I did!
Download at Internet Archive: https://archive.org/details/f-min-infinity-21
Thanks to my Patreon supporters!