We assumed it was going to happen and it seems it is going to, Project Cars finally arrived for the Playstation 4, Xbox One and PC recently but the version many were waiting for is nowhere to be seen, the Wii U version. Although those of us who wanted the Wii U version expected it we didn't want to believe it, but it seems its true the Wii U version is likely to be cancelled. This has basically been confirmed thanks to a message on the Project Cars message board Slightly Mad Studios developer Ian Bell. According to Bell, the game is currently running at 23fps and 720p, something that the developers are not happy about. Unless they scale down the graphics Bell says development will likely shift to Nintendo's next home console.
Although it is likely it has been cancelled no official confirmation has been made just yet so there is still a chance a Wii U release might happen. To be honest, I don't think the graphics are important as long as the core game doesn't get hurt, so hopefully they will make the right decision and just scale down the game.