If you are only 2 1/2 years from that major weight loss... your body will continue to adapt to competitive cycling and you will continue to see gains. If you've seen noticeable gains the past year... I would expect you to see that continue into next year. Keep racing man. I have great admiration for older dudes that keep showing up, putting in the work, and mixing it up with the younger guys.
Continue to keep getting better and improve... learn your strengths and try to use them, know your weaknesses and train those areas. Enjoy the ride.
Huge thumbs up for what you've accomplished so far.
You do well by setting goals to give you the tools that will let you do well. Your best benchmark is you, not those around you right now. So after every race break things down. What worked, what didn't. Example:
-I have trouble with corners
-I am out in the wind a lot
-I got blown out the back during a surge
-I had no problem winning the Powerbar prime
You could come back here with that list and explore those things, find an experience rider as a mentor, or hire a coach to help with that stuff. What you'll find is by working on the bite sized problems, the finishes will start to take care of themselves.
Racing is a multifaceted craft. Tactics, fitness, playing to your strengths and keeping your weaknesses form being exploited; mental toughness and knowledge all factor into success. Your goal is to learn that craft and improve. You'll know when it's good enough to start setting finish position goals. Then you continue to break things down and work on improvements.
I also started racing late (mid 40's). A few years before I was 200#. I did not set the world on fire initially. Then things came together. Patience and diligence.