Circular object red and white lights

My wife and I were driving westbound along Route 80 in Wayne, NJ just after midnight on Saturday, February 19, 2022. Above us, traveling in the same direction but remarkably faster was a circular object. This object had one bright red light at its center surrounded by a bright white ring of light. The object flew overhead quickly before stopping on a dime mid-air. The object then shot straight up out of sight even faster than it had been traveling parallel to the ground. My wife and I were both taken aback as we have never seen anything like this. I consider myself pretty open-minded but my wife is a huge skeptic and even she feels like what we saw was not any kind of technology known to the general public.