I'm not a pilot, but the by far most dangerous time to have an engine problem is the period that starts the moment you have accelerated too much to safely stop the plane on the ground and that ends with having sufficient speed and altitude to glide back to an emergency landing. There surely are defined procedures for reaching the least deadly outcome for every phase within that period (basically a lookup table based on accumulated energy, with different input options, with either time or airspeed and altitude is proxies for accumulated energy). Being well trained just means applying those rules with minimum hesitation.

Even experience cannot be much of a factor on top of that, as very few pilots will ever experience a scenario like that outside the simulator. My layman's suspicion, honed in the MCAS debates, tells me that the only other thing experience and human "general intelligence and gut feeling" can add to the equation is educated guesswork regarding which data to distrust when things just don't add up consistently due to a malfunction.