I absolutely loved Persona 5, took me a pretty long time to finish at 140 hours, but I loved every moment of it, I'd consider it one of my favourite games of this gen, and one of the best RPGs this gen too, it's the first Persona game I played where I didn't get bored and give up within <10 hours (I own P3P and P4G too) before trying again multiple times and STILL giving up. It instantly hooked me, getting better and better as it went along, the story, music, battle system and cast were all brilliant, something I'm excited to see how they expand with P5R, and I've got it preordered, although fuck knows when I'll have enough time to play it!
As for Final Fantasy VII, it's not really in my, say, top five games of the series, but then again my rankings are all fucked up since the tenth game could be just as good as fourth place, a lot of games tying for fourth place after my top three of X, IX and IV... it's hard to place this one specifically too, but either way I haven't played it for a looooong time, and even at that I never finished it back then since my brother somehow accidentally broke the third disc, so I never actually finished it until it became a PSOne Classic on PS3/PSP/Vita, and that time around the game didn't really feel as great as I remembered it back in the day, but that's most likely because it was YEARS later and the game just felt outdated in a lot of places, something IX didn't. That being said, my hype levels for the remake are pretty much through the roof, especially with what we've seen from TGS, and hopefully we'll get to see more before release too, but all signs point to me absolutely adoring the shit out of it.
... So I guess that's a tie, right? No!
Okay, of Persona 5 and Final Fantasy VII; I'd say I enjoyed Persona 5 more given my circumstances with FFVII, I never got to finish it originally and waited YEARS to do so, and by that point the game was just so outdated on so many levels that it interfered with my experience...
Now, Persona 5 Royal or Final Fantasy VII Remake? Hands down Final Fantasy VII Remake. Do I have it preordered? Nope, because I'm still holding out hope for a next gen port and I'll be able to own all parts on the same console, lol. BUT I'm so much more excited simply because there's so much more they can do and add to the game, and the trailers so far have shown some of what I mean, it's not just an enhanced version of the original game, it's basically using the original game as a blueprint to make something much, MUCH bigger, the fact that it's spanning multiple games, the first of which is confirmed to be on multiple discs, shows the scope of it, at least to me anyway. They're expanding on things people probably never even thought about back in the day, Jesse, Biggs and Wedge having a bigger role in the story for example. And the fact that we get to explore the entire city of Midgar rather than just a few sections, means there's room to tell us stories regarding the rest of the city... just stuff like that really gets me excited and is the reason this answer is a no brainer for me.
TL;DR Persona 5/Final Fantasy VII Remake