I can't praise Newcastle too much just because they were able to hold Milan to a draw in their first match in the group stage. In fact, PSG is still a more solid team than Newcastle in Europe even though PSG still failed to win the Champions League title.
Newcastle are slightly more favorites because they are playing at home, but PSG doesn't seem like a random team for Newcastle to beat so easily. Luis Enrique has good experience in the Champions League and that will help him in managing the high pressure of this competition, while Eddie Howe apparently has not. I'm not sure PSG will lose in the second match of the group stage, but I don't rule out that possibility if Newcastle is able to exploit its home advantage perfectly.
Most recently, Newcastle managed to beat defending European Champions League champions Man City in the Carabao Cup competition with a narrow score of 1-0, previously Eddie Howe squad succeeded in immersing Sheffield United in the EPL with a landslide score of 8-0. I think Luis Enrique and his team team should pay close attention to Newcastle improvement in performance. On the other hand, PSG also managed to silence rival Marsielle in Ligue 1 with a promising score of 4-0, then Enrique will bring his squad to play against Clermonth.
However, I think the match between Newcastle and PSG will end in a draw, even though the Magipies are playing at home. Luis Enrique, with his wealth of experience, will try his best to get full points and top group F. On the other hand as you said, it could be that Newcastle, with improved performance and fan support, can beat PSG in this match.