Based off their spec sheets, yes it seems the U7G is better since 120hz and HDMI 2.1 isn't your priority and especially when the contrast ratio is 4000:1 compared to the 1600:1 on the U7H that alone is pretty disappointing if we compare it to not only the U7G but other brands at the similar price point. I'm curious if the Local Dimming implementation could save the U7H and boost contrast significantly, but we'll never know since RTINGs and HDTVTest are unlikely to review this variant.
IMO they should have named these TVs differently instead as it can cause confusion and mislead people regardless if the variant is better or worse. Imagine people in the US seeing reviews of the SG or Europe variants while some of us see reviews of the US variants thinking they are all the same TV. A recipe for buyer's remorse and return/refunds.