Manchester City's next match is against Leipzig. Leipzig is a relatively weaker team compared to Manchester City. So the possibility of Leipzig being eliminated in the round of 16 is very low. Moreover, Manchester City is in very good form right now. I would say Manchester City, Bayern Munich, and Real Madrid will be the favorites to win this season's Champions League.
I think Leipzig's match with Manchester City will be very tight. Although Leipzig are less strong than Manchester City. Sometimes it is seen that even the strong team loses to the weak team. For example, in the match between PSG and Brian Munich on that day, PSG lost. Here, PSG is stronger than Bayern Munich. Here we consider Leipzig to be less strong but they can surprise Manchester City by beating them.