It's quite disappointing that they failed the UCL, I was expecting them to be a competition for real Madrid and Barcelona but they couldn't withstand psg, it's obvious that they are going to win the EPL but if they continue like this there might be a chance of them not winning. Arsenal has more chances to continue the UCL but they have problems with consistency, I don't think they can last long in the UCL. Liverpool on the other hand should be careful because arsenal is pressing and if they are not careful they might overtake them.
Liverpool are currently in a bad situation after their defeat in UCL, they also lost in the Carabao Cup final against Newcastle so now only the Premier League is the only trophy that is possible for Liverpool to win this season so that makes their motivation much higher to maintain the opportunity especially now Liverpool are 12 points ahead of Arsenal so I think there is no significant pressure faced by Liverpool especially Arsenal's performance is very inconsistent now so of course there is nothing dangerous for Liverpool to win the Premier League title this season, I'm sure it will happen without any big surprises.