Liverpool are behind Manchester City with small difference but they have more advantage than Manchester City. City will pay more attention, concentration and resources for Champions League. They are obsessed with Champions League and will spend most of their resources there. Liverpool in contrast will still have a successful season if they can get a trophy in either Premier League or Champions League.
With Manchester City, they only see a successful one if they can win Champions League. Pep wants his first trophy there after leaving Barcelona too.
The purpose of a competition is to measure the ability of a team in terms of a technique, tactics and a mentality, at the end of the competition only the best team gets the prestigious trophy. It is impossible for City to hand over the EPL title to Liverpool just like that, the EPL is a prestigious trophy in the Premier League, in one season there are 20 teams fighting for 1 trophy. Although the UCL trophy is more prestigious than the EPL Trophy, Manchester City will continue to prioritize the EPL Trophy as a gift to the supporters who have supported them from the beginning to the end of the competition. Likewise with the UCL trophy.