The credits for the game say:
3D Landscaping: Tom Loughry, Cyndi Kirkpatrick, Tomi Quintana, Jerry Pape
So if one could contact, for example, Tom Loughry, it might be possible to find out how (and where) the maps and objects are stored. If he is allowed to talk about that and still knows it after all these years.
Another Accolade game from 1992, Grand Prix Unlimited, uses a tile based editor and from two short tests I made I am confident that the data is also stored with tile references instead of full vector data. The graphics look similar but I don't know if the same engine and data model is used. Could also be totally different. But if Test Drive III uses a tile based option to store the maps, one would need to find out where the single objects like houses, tunnels and mountain parts are stored after getting the map data itself. And then combine all this.
I cannot do any of the needed tasks, I fear. I tried, but I don't understand enough of the materia. If it would be possible to log all file accesses (and the exact number of bytes and offsets read from those files and in which order) via DOSBox, it could be possible to narrow down the exact data that is accessed when loading a new map, but from my few-minute check it looks like the built-in debugger doesn't log these informations.