I've been told that, for an arbitrary value of "elite", that an elite pitcher has the edge over an elite hitter.
However...
There are only 30 MLB teams. Each need 4 or so starters, plus 6 or so competent relievers. At all levels, from high school through college through minor ball, MLB teams are ready to write sizeable checks to anyone who shows promise as a pitcher.
Anyone left over is likely in college.
There's umpty gazillion collegiate teams using not-quite-MLB ready talent. I'd therefore be willing to bet that collegiate hitters have a substantially narrowed gap in relation to their pitching counterparts. I've seen more 15-12 competitive collegiate scores where both teams trust their offense over their pitching.