A lot depends on the brand of LVT or engineered. Cheap engineered or cheap LVT will still look cheap and both will wear poorly.
If you choose engineered you want one with at least a 2.5 mm wear layer (3 mm is better) so that it can be sanded 2x if necessary and so if you do ding it, you're not looking at bare wood from the base.
Quality LVT looks great. Having seen keywest's home and his LVT, I can attest to the fact that it looks beautiful and could fool you at first glance. And I'm guessing it will hold up well. However cheap LVT looks cheap.
As long as you're getting a quality product, I don't think you can go wrong with either one.
Q