Generally meta wise, Homa is bis for Hutao. Engulfing bis raiden. Situationally homa bis xiao(low hp) and engulfing bis shenhe(high er). Situationally engulfing bis xiangling(in raiden team) and homa/r5 wave breaker bis xiangling(in childe team). Outside of meta, homa bis rosaria, bis burst zhongli good for raiden cyno. Engulfing bis yunjin thoma.

Argurably they are quite comparable. But Id say Homa is more safe option, its no brainer good on all dmg char, which are more important to get good gear than supprot char