When comparing Leadwerks Game Engine vs GameMaker Studio 2, the Slant community recommends GameMaker Studio 2 for most people. In the question“What are the best 2D game engines?” GameMaker Studio 2 is ranked 67th while Leadwerks Game Engine is ranked 75th.
Specs
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Pros

Pro Versatile flow diagram script model
Leadwerks's flowgraphs resemble flowcharts where each box represents a function or value, with connections between them representing program flow. This provides a better at-a-glance indication of game logic than a simple list of events, and makes complex behaviors easier to accomplish.
Pro Built-in level editor
Has an acceptable 3D map editor that is easy to use.
Pro Handful of Prefabs and Scripts
For example, you take a model (e.g. torch), add a light source to it, add a particle generator (for fire) and save it as a prefab (one file). Then this prefab can be used to add many torches with fire and light.
Pro Quick prototyping
Pro Good user interface
Pro Well-optimized engine
Pro Has a trial version (but limited functions, can't export)
Pro Many unofficial tutorials
Most GMS1 tutorials are fine for GMS2
Pro Highly customizable IDE
Although users must work within the IDE and editor, GMS2 has many options to customize the look and feel
Pro Good documentation
Pro Huge, generous community
Cons
Con Very buggy
Leadworks is a not complete, it's a work in progress. As such many parts of the engine are clunky, especially the level editor.

Con Documentation and support are limited for non-coders
The flowgraph editor can be used with free script assets to build games without writing any code, but this is not directly intended or encouraged by Leadwerks.
Con Highly misleading advertising
Con Not the best scripting language out there
GML is just weird; if you want to learn programming, it is not the best because it teaches bad habits and has many odd shortcuts and shortcomings that won't transfer to a real language
Con HTML5 export is buggy, doesn't "just work"
Con Quite expensive
Windows ($100) + HTML5 ($140) + Mobile ($400) + UWP ($400) is $1,050, plus $800 anually for each console export separately. But doesn't do anything any of the free engines can't do, and the stability and tech support aren't great.
Con Unstable
Users frequently report crashes and hangs, particularly when working with assets, and the software uses a complicated underlying meta-file structure that may become corrupted and cannot be rebuilt
Con Limited support for OOP
Con Small development team
The core programming team is only 5-10 people, with about 30 employees total, so bug fixes can take a long time to be addressed, and there aren't many official tutorials
