There were 3 people killed during a CART race at MIS some years ago. It didn’t mean the end of racing at MIS.
They raised the height of the fence and reinforced it a bit more. In fact I believe that accident was what lead to wheel tethers in NASCAR.
Frankly, reasonable safety improvements are the best possible tribute.
I wasn’t aware NASCAR used wheel tethers, and in any case they wouldn’t do much good when the whole front end of the car is grated against the catch fencing. I know this incident and a few others like it (for sure I can recall a wheel killing a spectator at the ‘94 CART race at Phoenix) led CART, IRL and F1 to mandate tethers on their cars.