Magic Does What It SaysRacial Feats.
Whenever you have questions about magic and its effects, remember the saying "Magic does what it says it does." Whatever is listed in the magic spell description is the rules, anything beyond that is conjecture.
This is an easy trick to fall into, to make logical assumptions about how things would fall. However, when going by Rules as Written. Magic does what it says it does. Logic need not apply, because MAGIC.
It retains the capabilities it had in its original form, except it exchanges its original race for the new one and changes its Racial Traits accordingly.
Literally everything on the character sheet remains the same, except for Racial Traits.
The real question is "How does the DM handle now - invalid feats?"
Officially. You have already selected the feat, but you no longer meet the prerequisite. Again, there is already a RAW answer: In the Chapter 6: Feats section.
You must meet any prerequisite specified in a feat to take that feat. If you ever lose a feat’s prerequisite, you can’t use that feat until you regain the prerequisite.
Your racial feats have still been chosen, however they are now disabled until you regain the prerequisite.
Ability Scores limit.
The ability scores you are correct never increase your ability above 20. Because even they are still limited by their original text.
As normal, you can’t increase an ability score above 20 using this feature.
Interestingly enough, there might be an edge case in which there is still a benefit, if your ability score were to be lowered for some reason, the extra ability score (over 20) could increase your score back up toward 20.
How to get back what was lost.
There are options however. Firstly, 100% by the book you may reincarnate until you return to your original race. Not a cheap option, and not even possible if your race falls outside of the PHB.
Other than that option, you can petition your DM to allow some form of quest, downtime activity or magic (Wish?) to allow you to reselect your feats from previous levels. Unfortunately 5e opted to not include any official retraining rules.