Football is certainly in a tougher spot than some other sports given the sheer frequency of events we're talking about. A British team, in particular, can have like 60-70 official matches in the span of 9-10 months assuming they reach the end/win all competitions they're in. In the breaks they play for their respective national teams, and many of those are also important events. You can perhaps cancel/pause/abruptly end the PL and take the results you've got for the 2020/2021 season if you wish, but you still haven't figured out what to do with the many cups a team can be in. And it's not just random titles, either: those cups actually define, among other things, who can participate in the next season's cups as well.
In Formula 1 if you cancel a couple months' worth of races, you can still have a pretty regular season, it all just becomes shorter. In tennis you can definitely call off a few invitationals to save some time, or even some official events to shorten things. But football is in a much tougher spot because a mere 1-2 months stop (in the last 2-3 months of the season, no less, when all the most important matches happen) means voiding several competitions, and given how teams can relegate or not qualify for another year's cups, there's an enormous difference between a pause, a "let's just take standings as we are" or a cancelation of the season altogether, as the teams involved in next season's events would be drastically different based on what you decide.
Whatever's gonna decided, some teams will benefit from it, others won't. Those about to get relegated in the PL would probably love this season to be voided so that next year they start again as if nothing happened, still in PL. Or Arsenal who'd suddenly be back in the EL even though their current standings would not get them anywhere near. A team like Liverpool certainly would want the title assigned on the basis of the fact they have a near untouchable lead (only maths don't allow to declare them the winners yet). Teams who are higher up than initially expected in the standings would probably enjoy a pause to the season so that they can continue from their excellent position instead of resetting things. And that's not even factoring in the UEFA events where teams like Lyon or Atalanta definitely would want prior matches to count, while a team like Inter or Liverpool that lasted far less than expected would greatly benefit from a reset button.
The important thing, anyway, is that the federations involved realize that people's health is above everything else. I have no horse in the PL title race but I would absolutely understand how various teams would get shafted by one decision or another unfairly, but in emergency situations there rarely is somebody who benefits. Certainly it would be insane if Liverpool's insane PL run was to be voided like this, but what matters now is that the British authorities take the correct measure to contain, to slow down the virus. They need to have the balls to pull off drastic measures like Italy because if they let this disease go unchecked, hospitals will crack under the pressure of the immense numbers of cases.