Tires are deformable bodies ... different tires will deform in different ways ... Will greater sidewall increase your contact patch area? Maybe. Depends on the tire and the tire wall stiffness ... you probably have a very small increase in contact patch area with a bigger side wall and it does have a very minor role in increasing traction ... The best way to measure all of these is to go out and test them in the environment. So with time, drag racers have used experience and indirectly physics to go faster. Low weight, big contact patch, thermodynamics/heat transfer issues means finding the right balance of sidewall height, tire width, stickiness of rubber compound / softness of the compound, and.... the driver to do it all