Next season, Liverpool are participating in the Europa League despite not playing the Champions League, meaning they have a chance to win the Europa League trophy for the first time. Even if Liverpool competes with Manchester City to win the EPL title, Liverpool may not be able to compete with Manchester City.
Not only Liverpool but all clubs that play in the Europa League have a chance to win, only the percentage of probability is different, you remember that Barcelona has also played in the Europa League two seasons in a row but didn't produce anything, last season they lost to Manchester United, that's it also with Liverpool even though the Europa League is not like the Champions League but that does not mean it will make it easier for them to win it than winning the Champions League or the English Premier League.
Manchester City won the Champions League title alongside the League title last season, meaning they had an equal focus on both titles. Next season too, they may have the same target to win the Premier League title as well as do well in the Champions League. In terms of strength, Liverpool will be far behind Manchester City in terms of winning the Premier League title.
That Manchester City will focus on repeating their achievements in the previous season is certain and all the clubs that excel will definitely try to focus on maintaining it or if it can be even greater, but it does not rule out the possibility of other things happening such as failing to defend it because of injured players or other clubs who experienced rapid development and it was not properly anticipated, or also changes in the line-up that the new players they brought in did not produce as expected so they experienced a decline. I'm sure Liverpool will try to do better next season to challenge for the Premier League title, as well as other clubs.