The word has not changed that much in common use (as far as it gets common at all). Ricing your car still has derogatory undertones, and even if you aren’t aware, it still has racist undertones as well if you think about it at all. Just because you aren’t aware if it doesn’t mean the affected people aren’t. If you said ricing in this context around me, I’d assume you’re ignorant at best, and deliberately racist and trying to offend me at worst