First Person for racing when I use a wheel - usually the bonnet cam rather than one of the cockpit views. Chase far for Drift and PG games when I tend to use a controller but I tone down the camera movement of the drift cam .
I use a wheel, so when I drive first person (bonnet) view, the steering seems to be very responsive; I can put the vehicle exactly where I want it in first person view. I drive this way exclusively in Forza Motorsports.
However, with that said, in Horizon I almost always drive in 3rd person Chase Cam (Far). This is because of the constant elevation changes in the terrain. I always seem to misjudge the next turn after coming over a hill in first person.
But, back to your original question “Is it worthwhile learning one of the other views”, it is helpful being able to navigate properly in the event you accidentally switch camera views during a race. Other than that… probably not.
For completing challenges (aka: not casually goofing off in the game) the bonnet/hood cam works the best (imho)…different views will work better/worse depending on how close you are to your actual display (aka: 8 feet away on the couch versus 2 feet from a monitor/tv).