Comparing the current state it only seems that Manchester City look better, but in reality it is hardly so and I admit that they can lose or draw with PSG in the Champions League. Yes, there are more chances of them winning, but given their instability - I wouldn't be so confident of them winning. Besides, PSG realise that a defeat for them will most likely mean elimination from the tournament and will fight to the end
Both PSG and Manchester City are in an uncomfortable situation in the Champions League. If PSG is very eager to win the Champions League once and then the trophy will be stored in the cabinet, then it is very unlikely that PSG will give up amidst Manchester City's unstable conditions this season. This match will be used well by PSG because PSG will act as the home team and for both of them will play the game in their best form so that it will not be remembered by many fans if they become a team that fails when the new Champions League format is implemented.
We can say Manchester City and PSG are currently in the same category. Manchester City is performing much worse this season than Manchester City did last season. When Manchester City take to the field this season, the difference in their performance from last season can be clearly understood. At the beginning of the season, Manchester City was considered as the strongest team in the Champions League tournament, but now Manchester City is not considered as the strongest team in the Champions League at all. I am actually not favoring Manchester City for the Champions League match between Manchester City and PSG on the 23rd. If PSG performs well in this match then PSG will win and if Manchester City performs well then the result will go in favor of Manchester City. I will not bet on any team in this match as the performances of both teams are random.