I could be wrong, but the only thing RR is known to be working on that Safran isn't (at least not publicly) is a 6th gen variable cycle engine. But then the RR variable cycle engine is meant for the Tempest/GCAP where Japan & Italy are partners. Japan's IHI & Italy's Avio are also involved with RR in the development of the GCAP's engine.
How does this development square with them? These 2 countries are "full members" of the GCAP, we are not. I can't imagine they would want to lose any workshare to us. Only way they will agree to this is if we join the GCAP, or if we have some proven tech/capability that is critical for this engine. Or maybe they desperately need funding. IDK.
Conversely, we are developing this 120-140 kN TF engine with Safran. That engine will go into the AMCA Mk2. A variant of that engine would probably go into the SCAF. Safran would eventually need to develop a variable cycle engine for the SCAF. So why not just combine 5th gen & 6th gen engines and pitch it for joint development.
5th gen engine with Safran, 6th gen with RR. Feels like we have stepped onto two boats at the same time. Let's see if we get some clarity.