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How many miles are on the car? Do you live in a hotter part of the country? Are you a "white knuckle" driver meaning you have a death grip on the steering wheel?
Did you try taking it to the dealership to try to get it covered under warranty? I worked in recon and how we would go about repairing it would be sanding and painting over damaged area. Over time it will start to peel again and look worst. I would just replace the steering wheel with a Tom's one or something else
Your steering wheels is very dirty from what I can tell. It looks like it is very oily and you need to not use products that will break the leather down.
I have a 2015 RC 350 and the steering wheel is peeling. Anyone have fixes they recommend?
Like others have inferred, your steering wheel is not peeling. It looks like you take very good care of your hands, which can leave your steering wheel looking like that with moisturizing product buildup. In my case, my steering wheel looks good but may hands look like they need replaced.
My recommendation is to use Clorox wipes (I actually use the Costco brand) and a wet terry cloth wash cloth. Scrub the wheel well with the Clorox wipes and before the cleaning solution dries wipe it off with the wet terry cloth. Let it air dry. Hopefully this will work for you