You are literally the first person I ever heard say that Genshin's music isn't driving immersion into its game world or any similar sentiment.
but in composition and production value among the best you get in the video game business or film business
First of all, the discussion is about winning music awards, which means that we are comparing what can make the score win the award and not just sound good/create immersion. What drives the most immersion, and what makes the game's music matter the most?
Secondly, pretty sure that the orchestra is behind every major video game score, unless it is something completely synthetic or unique that orchestra cannot play. I am 100% wrong person to discuss which composer or orchestra is better.
Finally, it isn't about quality, it is about the immersion and quality being separate entries. A game where the music is being played in-world is instantly more immersive than the one where the music is just played for the player. It also translates to the scores where one aspect of game's music/sound is being incorporated into OST.
Plenty of highs in Genshin, like I said, some exploration music fits very well. But on the other hand, it does the Persona's mistake of playing the same Liyua music on every battle encounter in the open world. And the emotional beats of the story/dialogue are just nothing, a game where music connects with character's emotions/storyline can push the value of music way more even if it is identical in quality.