The Playseat Challenge looks like cheap & nasty rubbish to me. Whereas the Wheel Stand Pro is a solid & well engineered piece of kit. I have owned a WSP before, & it was very solid & up to the job. However, it wasn't as good as having a full cockpit set up like my Playseat Evolution. Have you considered any other set ups?
I'm a Wheelstand Pro V2 owner. The quality is high, it's strong and fairly stable too.
I use mine on a carpet and it barely moves at all unless I'm doing something rather silly.
The centre post is a little annoying at first, but I soon learnt to live with it.
It folds neatly, I fold mine and hang it inside a cupboard out of the way when not in use.
Easy to assemble, I watched a YouTube video showing how to mount the wheel before I purchased the stand and it was straightforward.
Cable management isn't great, there were a few cable ties provided but not enough to make a neat job. Luckily I have plenty.
I've recommended the WSP to others and its a good product. Unfortunately I haven't used a Playseat Challenge so I can't comment on that one.