Baer by KO in round 2
This is an easy one. Max Baer would knock Floyd Patterson silly. He would probably do it in 3 or 4 rounds. Max Baer was very talented and he could punch. Floyd was a light heavyweight at best and had a glass chin. Max Baer did not take boxing seriously. If he did he could have been an all time great.
Max Baer was the last of the best breed of classic stand-up boxers. He was well tutored and skilled in the finer points of boxing but he was not above sneaking some nasty or dirty tricks if the situation got rough and rugged. He proved no match to the best and greatest prototype of modern heavyweight in Joe Louis who took less than three rounds to put him out and effectively end the era of classical boxer in the division.
Now Patterson at his best prime was the specimen of a modern fighter although he was not a standard heavyweight even for his era in the late 50s and early 60s. But he made up for his size disadvantage with his better technique and power and firepower that matched many of his contemporaries. He nevertheless was still vulnerable especially if he was not well prepared as shown in his first fight versus the Mighty Thor Ingo.
Prime best Patterson would be a formidable foe for any from the classic era of heavyweight boxing with the possible exception of prime Jim Jeffries and Jack Dempsey.
That goes to say that Patterson would have handled Baer and beaten him to a bloody mess by the late rounds enroute to a TKO or decisive UD win.
Patterson was never a true heavyweight he was a blown up light heavy and when Baer hits him with his right he will be sleeping for the night.
Patterson had speed, but I don't think he could avoid being hit and when he gets hit the fight is over.
Max Baer in the late rounds.