Try performing a Manual System Update and a System Restart on the Roku device.
Settings/System/System Restart or Settings/System/Power/System Restart.
If doesn't work to address issue, try Removing the channel, Restarting the Roku device, and then Reinstall the channel.
Finally, give your Router and modem a reboot. Good idea to periodically reboot them to clear clear out any cobwebs.
If that still doesn't work, you will most likely have to reach out to the channel developer (F1TV) for additional support. There is an Email and Chat option on bottom of this page link. (https://support.f1.tv/s/?language=en_US)
Just for info, I was able to install and launch the F1TV channel on my Roku Ultra 4660 and browse through some content but unable to test if would play since I don't have subscription. Does seem to take some time loading though, so may need to check your internet speed as well as possible culprit. (https://www.speedtest.net/). I was around 30Mbps and was not the fastest response time. (minor circle spinning.) It was able to load up content for viewing though in the different categories.
Feel free to post an update or if you need more help.
Roku Community Streaming Expert Just another Roku user... I am not a Roku employee. Insignia RokuTV, Ultra 4660, Premiere+ 3921, Express 4k+ 3941, Streambar 9102