The 2014 engine, although smaller in displacement than presently used, has that turbo supported by the MGU-H. We would assume that it has less power at lower revs, but that motor/generator attached to the turbo can spool up the turbo and thus deliver lots of meaty power at lower revs.
As far as attempting to have traction control, everything is controlled by the ECU. It is expressly designed to eliminate teams using it illegally.
8.2.1 All components of the engine and gearbox, including clutch, differential and KERS in addition to all associated actuators must be controlled by an Electronic Control Unit (ECU) which has been manufactured by an FIA designated supplier to a specification determined by the FIA.
The ECU may only be used with FIA approved software and may only be connected to the control system wiring loom, sensors and actuators in a manner specified by the FIA.
Additional information regarding the ECU software versions and setup may be found in the Appendix to these regulations.
8.2.2 All control sensors, actuators and FIA monitoring sensors will be specified and homologated by the FIA. Details of the homologation process may be found in the Appendix to these regulations.
Each and every component of the control system will be sealed and uniquely identified and their identities tracked through their life cycle.
These components and units may not be disassembled or modified in any way and seals and identifiers must remain intact and legible.
8.2.3 The control system wiring loom connectivity must be approved by the FIA.
All wiring looms must be built to ensure that each control sensor and each control actuator connected to the ECU is electrically isolated from logging]only sensors connected to either the ECU or a team data acquisition unit.
In general, there must be no active or passive electronic component in the control loom. Exceptions (e.g. termination resistors) must be approved by the FIA before use.
At all and an time, the FIA can inspect hardware, wiring looms, and software, just to make sure something like traction control isn't being used. If any team even suspects that a competitor is using traction control, they will dash off an email to Charlie and it will be thoroughly investigated. Nothing is impossible, but this time the FIA has made it more than difficult for anyone to have traction control.
How long could anyone get away with it? With luck, first lap in first practice. Teams watch each other, they even have specialized microphones installed by the track to listen to the competitor's engines to analyze power levels, and what's going on in the engine.