Hello Costa
You can simulate OSFP LFA FRR by simply employing the lesson commands on any router image in GNS3 that supports it. Now keep in mind that the GNS3 emulator software is free, but the related Cisco IOS images you require to use it are not. Cisco owns the copyright on IOS so they can’t be shared freely. You’ll have to purchase them or get them from someone who has legal access to them.
I hope this has been helpful!
Laz