He is working for Sky as a commentator at races. Doing the occasional TV commentary is a lot less time consuming, is a lot less stressful, and allows a lot more family time, than driving for the #1 F1 team, against arguably the best F1 driver off all time in Lewis Hamilton

I think there is something to it but I think being a driver, especially as Hamilton's teammate, is all-consuming and super stressful. I think now he can do what he wants when he wants without much pressure. He seems to enjoy the spotlight so that's what he does.

IIRC Rick Moranis basically quit acting to be with his family and Elton John has specifically stated he drastically scaled down to raise his children.