That version of Schmeling would probably beat that version of Holyfield. Schmeling had legitimate skills and power, and put in gritty showings against almost everybody he faced. Holyfield was pretty green and Qawi gave him all he could handle. Max may even have a weight advantage to boot. I'll take Max in this hypothetical.
The Max that beat Louis that night was brilliant, if he could knock out Joe Louis boys he would knock out Evander Holyfield