The inclusion of TwinMotion for Revit with the AEC Collection adds a significant twist to the plot. The Unreal Engine handles bigger files and provides better quality than what Enscape is (currently) capable of achieving.
I am not sure.
I always preferred Enscape's more precise ArchViz looking GI quality.
And the better suited Material Library, Virtual Sky, .... in the past.
But over the last 3 years the difference got smaller and will in the future.
I think, full Unreal would already offer more features in this regard than I will
ever wish for my work for the next decade.
It is just that full UE is just a monstrous bloatware with non industry standard
UI/GUI that is not accessible to mere humans.
So I would prefer Enscapes UI nevertheless, or even Twinmotion.
(mainly for a perpetual license (!) offer and entourage spread offers)
And for non-Windows/Nvidia users, like Apple ARM users, there are still some
downsides, that may stay that way for the near future.
It may need 2-3 years lag for TM to include all UE bells and whistles for ArchViz
but you can be confident that TM will evolve.
So from an Apple ARM users view, for now, I think Enscape's quality and usability
is better.