In Champions league is it obvious that PSG is going to win the title?
Well, they have been among the favorites the last 5+ years but have managed to get out of the quarterfinals only twice - eventually losing the 2019 final to Bayern and a semifinal to City in 2020.
They have a tough draw in the R16 - Bayern had 6 clean victories with a 18-2 goal difference in a group with Inter and Barcelona.
It would not surprise me if PSG gets kicked out in the 1st knockout round.
You wrote first before I did. PSG and City are Top2 favorites in champions league ever since I remember from the days when Mbappe and Neymar together and from when City just kept winning every title so easily.
Both sides have the best superstars but like World Cup, you only need 1 upset or bad game to get knocked out

I think both sides need much more experience first, both from players and managers.