What happens when Most Wanted cars get away?

I raced the Alpha Romeo 4C Concept in a Most Wanted race, but after the race I was busted by the cops and it got away.

Now when I look at Most Wanted Race 10 in the Easy Drive list I see the following;

Does this mean that the car is driving around somewhere in the game world? If so, where can I find it?

Would it just be easier to re-run the race and hope for better luck with the cops next time?