I compared it because its optimized very good and the game works most of the time also not many loading screens
I know you did, I just couldn't resist

Still, just musing about how it could've been or how a different title could've been with the different engines is interesting in it's own right, but it wouldn't be Cry of Fear anymore, it would be something different.
Using a different engine can be both good and bad. When you're well versed in the workings of an engine, you can pull off more awesome things than with engine you're unfamiliar with.
And not all engines work for the intended purpose.
The fact that other games are better optimized has little to do with the engine, and more to do with the things we've covered before, such as DS3 having a fulltime staff with some people directly tasked with optimization.
A newer engine does make it easier, but does not guarantee better optimization as I've experienced with several commercial titles.
It all comes down to manpower, time and knowledge.