Mechanical reduction can be 99% efficient.Gearbox's power loss is about 5% in case of multiple propeller shafts and prime movers, 95% efficiency.
In IEPS the shaft power (from the prime mover) to the propeller shaft is reduced by electrical generator and motor, both at over 96%, in total at 92% efficiency.
So overall, electrical drive train is on the same level if not better than mechanical drive train in delivering thrust (therefor speed) from the same prime mover.
Electrical propulsion has more conversion stages: prime mover -> generator -> motor drive -> motor -> propeller compared to prime mover -> reduction gear -> propeller
Based on some of the research I could find, electric propulsion plants incur about 8-10% loss in total power conversion: so 90-92% vs 99% for mechanical drive.
Quoting a CRS report ()
Less Efficiency at Full Power
Electric-drive systems can be less efficient than mechanical-drive systems for full-power (i.e., maximum-speed operations, due to the energy losses involved in converting RPMs into electricity, and electricity back into RPMs.