If you are starting with jpegs, I don't think there is much advantage in using LR/ACR.
If you are starting with raw files, Lightroom (and ACR) is slightly superior at global tone controls - camera profiles, white balance, exposure, highlight and shadow recovery, etc.
LR/ACR is also a bit better than Photoshop at noise reduction and sharpening (capture sharpening, but probably not creative or output sharpening). Although many argue that 3rd party plugins are better than either.
Adjusting color and saturation is a more complicated issue. Sometimes LR/ACR has an advantage, sometimes Photoshop is superior. For example, the basic saturation and vibrance sliders in LR/ACR are inferior to the various methods available in Photoshop. Yet LR/ACR has some targeted color controls that are not available in Photoshop. The LR/ACR pallet for HSL has 8 color controls, including a valuable orange slider that is uesful on skin tones. Photoshop's Hue/Sat has only 6 color controls, Selective Color has only 5.
The most important difference between LR/ACR and Photoshop comes in masking, where Photoshop has a dominant superiority. Not only in hand painting masks, but in generating complex custom masks. Specifically, luminosity masks and saturation masks available in Photoshop can not be made in LR/ACR.
So, my advice, do as much as you can with global tone adjustments, sharpening, and noise reduction in LR/ACR. Then move to Photoshop for fine tuning of tones and colors, plus any cloning healing.
When doing global tone adjustments in LR/ACR I always leave a little room in the histogram for the further processing in Photoshop. If you push the highlights and shadows to their max in LR/ACR, then you may have problems with clipping in Photoshop.