I say Liverpool has a better squad only because Liverpool has a better defense compared to Real Madrid. and in the other aspects of the squad, I think both teams are absolutely the same.
Do you hear the current rumor on the Liverpool squad? Salah, Van Dijk, and Fabinho are rumored to get injured. So, Liverpool won't play with their best squad if these players aren't available for the final UCL. And missing Van Dijk & Fabinho will bring a significant impact on Liverpool defense, their defense won't be as strong as you expected.
But of course, we have Benzema in the Real Madrid squad who is on fire.
Not only Benzema, but all Real Madrid attackers are on fire.
Don't forget Vinicius and Rodrygo, they performed very well in the last few matches as well. So, Liverpool cannot think that Benzema is the priority to guard closely. They should focus to guard all Real Madrid attackers.