Smallville Ollie and this has been made numerous times. He shoots bullets out of the air and tags speeding kryptonians. He has better trick arrows, instant wins like knockout gas and taser bomb. Arrow only has his bow and throwing flechettes, but Smallville has those along with his mini crossbow that can rapid fire.
Amell likely has better draw speed, but both of them are high tier arrow timers, capable of shooting each other's arrows out of the air, so it will most likely come down to cqc. Where Amell will reign supreme. So, Arrow, more often than not.