I think this would be a war. Lopez punches freakishly hard but can be lazy. Spence gets hit but he does work round by round which might discourage Lopez.
Lopez would come very close to khtfko Spence, and then gets lazy and stoned, allowing Spence to pick up the decision
That's part of it. That and the fact that he destroyed Campas easier than Trinidad did. But he also had duds, like almost losing to a shot Jorge Vaca, and losing to Page. The narrative on Lopez is that he could have been a great if he wasn't a stoner, but he still had some natural deficiencies, like slow feet, and no headmovement. I think even on his best day, he loses to Oscar and Trinidad. Oscar too quick for him, and Trinidad far too much firepower for him.
He was offensively gifted for sure. And he had big power. If Spence was retarded enough to go to war with Lopez, he might very well get stopped, but Spence isn't a retarded fighter. He would fight Lopez the same way he fought Mikey, and take a clear decision.
Lopez also caught Quartey around the time that Ike had began to slow down just a bit. There was a lot of hype around Lopez but he wasn’t really all that good. Anyone of those top guys from the 90s beats him.