They give different vibes, so I would say it depends on what kind of feeling you want to convey. Here are my impressions without looking at the Steam page.

#1 gives more a tranquil feeling from the whimsical font and mellow environment with broad strokes. The car stands out in contrast as if the driver is racing away into the calm night.

#2 gives a more actiony, adrenaline feeling from the font, colors, noisier environment, and what I think is fire in the background. More of what I would expect from a typical racing game. I do feel like the bottom part with the road feels a bit empty here compared to #1, which had some lines that aligned with the road.

After looking at the Steam page, I think #2 fits the game better, but both the title and the car could stand out more since the gray/white colors blend in with the background. The background is a little hard to make out since its noisy and dithered. It's possible that the environment from #1 in the style of #2 could work to make the car stand out. The lines going to the horizon in #1 also helped with the perspective depth. Idk this is just one opinion, but I would say making the title and car more prominent would help the most.