I have played some 30h in Redout 2, half way through A-League on pilot difficulty and after a lot of experimenting I now figured out a controller setup with which I am completely happy with.
Haven changed my setup since writing this guide, and now 65+ hours and counting, currently playing in the highest single player league :)

I want to share it with you :)

This is for an Xbox style controller.

.

There are some weird things I want to explain:

• The D-Pad buttons and regular buttons are unused because I only have two thumbs, and those need to rest on the analog sticks at all times! Pressing any of those buttons is "too slow" to be useful and seems like an unreasonable tradeoff to not steer or not strafe for half a second! Redout 2 is very fast!
  
• The RB button above RT "Accelerate" button is not assigned, because basically I am never releasing RT during the game :D I also noticed that using that RB button for brakes is too slow, you crash into the wall before your finger has moved off the gas and onto the brakes. Redout 2 is very fast!
  I'm using the index finger for RT, using the middle finger would free up the index finger but it feels weird using it. Not pressing accelerate for half a second to do anything else can lose you the game.
  
• Brakes on right-analog-stick-down feels good, it is very quick to use and works well with strafe in tight turns.
  
• I had view change on right-analog-stick-up, felt very snappy for jumping (temporarily switching to 1st person view makes jumps like over 9000% easier) but unfortunately I triggered it too often unintentionally.
  
• This is why view change has to be LB. Not boosting in the air for a half second is ok to press view change, doesn't really matter. And this is also why hyperboost has to be elsewhere.
  
• Hyperboost on right-analog-stick-push is ok, because if you want to use hyperboost most likely it is on a straight where your strafe stick is not used. It feels really natural after a short while.
  
• view change on left-analog-stick-push is not good enough because when you are in flight you need very precise control of the analog sticks and in my case pressing that button while the stick is tilted can fail to input the command or influence my steering. Not acceptable.

What would you do differently and why? Reply in the comments. Make sure to try the setup for a couple of races before answering.

Cheers,
--SirCake