A wheel is rotated about its central axis, therefore we will compare all the moments of inertia of various shapes about their central axis.

Moment of Inertia of Ring of mass $M$and radius $R$about its central axis is $M{R}^2$

Moment of inertia of solid disc of $M$and radius $R$about its central axis is $\frac{M{R}^2}{2}$

Moment of inertia of the annular disc of mass $M$with outer radius $R$and inner outer radius $r$about its central axis is $\frac{M\left(R^2+r^2\right)}{2}$

Moment of inertia of the cylindrical disc or hollow cylinder of mass $M$with outer radius $R$and inner outer radius $r$about its central axis is $\frac{M\left(R^2+r^2\right)}{2}$

Hence, from the above expressions of moment of inertia of given shapes, it is clear that moment of inertia of ring is maximum for the given mass and same radius.