It does sound like the valve body or clutches are damaged. If you just picked this up for racing then I would definitely remove it and go through it as it will likely fail on you in a race.
Here is a guide that will help with removing the unit. It is not exact as it is rear wheel drive but gives good info that will be useful to you.
https://youtu.be/3vJAojsrfuU
Below you will find the process from the manual that will give the detail needed to remove your unit.
Please run through this and let us know what you find.
Thanks
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Saturday, July 31st, 2021 AT 5:10 PM