A Tibetan Buddhist would often tell you it is simultaneously both.
Other philosophies might say different things.
But, here is a way to look at enlightenment:
Experiencing enlightenment is a subjective experience
However, the path to enlightenment is an objective experience where you condition your mind to be able to understand and to accept enlightenment.
Not believing you are already enlightened is the actual problem here.
Thinking that there is something wrong with you (other people like to make you believe this by the way so they can control you and make you their slaves by the way like Employers, teachers, parents and friends and sometimes Priests and ministers).
But, in actuality you are already perfectly enlightened.
And in reality all you have to do is to realize this.
For example, I was driving to a Fire lookout I was working at in California in the 1980s. The Buck deer with full antlers may never have even seen another human being because we were so remote on the way to my fire lookout. He didn't see me but I saw him. The sun was setting and he was magnificent. For a buck Deer he was completely enlightened and empowered in every single way.
All I could think was "Wow!" and that this might be the most powerful and important moment of my entire life watching this truly magnificent being!
It was at that precise moment when I realized Enlightenment is not about doing it is completely about Being.
And in that precise moment I realized I was already enlightened.
There was nothing I had to do but just to be.
This was enlightenment!
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