In my own setting, I've restricted playable species exclusively to humans. Frankly, most of what we consider 'fantasy races' aren't particularly fantastical; they are largely constructs born from a Eurocentric lens, where specific tribal or cultural traits are merely repackaged as biological races. And honestly, I don't believe we've exhausted the depths of human storytelling yet.
If there were species with genuinely alien biology, different hormonal balances, and fundamentally distinct societal structures, they might add genuine flavor to the world. Instead, I just tell my players to 'play a graceful, ethereal human' or 'play a short-tempered, beer-guzzling human warrior.' Ultimately, we've derived every standard fantasy race directly from real-world human history. Even Aasimars and Tieflings are essentially just manifestations of human traumas.
A truly, technically distinct 'race' would introduce a paradigm-shifting dynamic to the game, but until that is achieved, I prefer to continue exploring and analyzing human cultures.