Cathay Pacific Asia Miles - Connecting Time in HKG from CO to CX?

I might be connecting from an EWR-HKG flight on CO, arrives at 20:15, to a CX flight to BKK, departs at 21:55. I've never changed planes at HKG, though I do remember it's a huge airport. There is also an EK flight departing around 22:15, which would give me extra time, and is only HK$1300 more in C round trip than CX costs in Y.
1) Is that plenty of time between flights? It's a separate ticket, so I'd be on my own if CO is late.
2) Is the CX lounge that I'd be able to use as an AA Plat member worth trying, or should I take the EK flight in C? I think it's about a 2.5-3 hour flight.
Thanks for all the help!

The legal connection time in HKG is 1 hour for most airlines. From CO to CX is 1 hour, so it is also for CO to EK.

As a Plat AA member, you are allowed to to use the Business Class section of CX's famed lounges even if you're travelling in Y. But bear in mind that you can only accrue mileage on CX flights if it's booked in H, B or Y class.

Not much difference for a 2.5 hour flight between HKG and BKK for EK or CX. Depends on what miles you can earn with whom if that is a priority.