Liverpool is a team with better squad depth than Leverkusen, so it's natural that Liverpool are the favorites to win. After all Liverpool were playing at home and it would be unreasonable to assume they would play worse. This match might be great if Leverkusen puts up the best fight, but Leverkusen's defeat is very possible. But first, you are right that this is a different season for Leverkusen.
Bayer Leverkusen of this season is quite different from the Leverkusen of last season in terms of performance. This Leverkusen of this season is not tough enough to even compete for the Bundesliga this season not to even talk of the Champions League, I have removed them from any title hope because they are not playing like they really want to win something this season.
Liverpool this season under Arne Slot is in good form, the team is now second in the EPL table and are doing very great overall in all competition; they can defeat any team in the world as it stands now because they have good squad and good defenders that concede less goals among top teams in the EPL and across Europe this season. However, they are my favorite in this match because Leverkusen can’t stop them from winning them because Liverpool is in good form and will their best to win the game.