Real Sociedad are a much better team in the Champions League compared to the La Liga this season. They completed Group D as leader despite having a competitive opponent like Inter in the same group. Can they be a challenging opponent for PSG as well? I think that they absolutely can. You can predict the reason behind that easily too in fact. 
It is true that Real Sociedad performed well in UCL. They could finish the group stage as the leader of the group D. It is quite interesting because they are in a better position than Inter Milan. We know that the point is the same, but Real Sociedad has lower conceded goals. It means the defense of Real Sociedad is quite solid, it won't be easy to defeat by other teams.They will play against PSG in the next match, I'm also sure that Real Sociedad must have the chance to win. PSG seems not playing very impressively, they were almost eliminated in the group stage. PSG was also conceded many goals during the matches in the group stage. It makes me a bit doubtful with the performance of PSG. Their defense looks not strong enough to compete with a strong team. Although Real Sociedad attackers aren't top players, they could destroy PSG defense as it seems rather weak. Meanwhile PSG attackers will struggle a lot because Real Sociedad has a solid defense.
PSG's performance is a little doubtful in the Champions League even though this club performs well in the domestic league, but in the Champions League PSG is no better than other clubs and this club always has difficulties when they enter the round of 16. And this match will definitely be interesting and very fierce considering that PSG has a sharp attack line but Real Sociedad's defense is also quite good and I don't think PSG will easily break through Real Sociedad's defense with more than 2 goals.