Good question, haven't really thought about modeling complex effects besides prop aerodynamic drag. If I were to start, I'd probably look at the model described in the "Aerodynamic forces and torques" section of "Champion-level drone racing using deep reinforcement learning" (Kaufmann et al. 2023).
In general, I think I'd try to go for a black-box/grey-box model based on real data rather than e.g. CFD-based, as I don't think you can run CFD at sufficient accuracy for real-time control anyway. For that, I would look at https://rpg.ifi.uzh.ch/docs/TRO26_Bauersfeld.pdf or https://rpg.ifi.uzh.ch/docs/RSS21_Bauersfeld.pdf