Orthogonal Time-Frequency Space (OTFS) modulation is a viable alternative to Orthogonal Frequency Division Multiplexing (OFDM) in channels that experience both time and frequency variations, particularly in high-mobility scenarios. However, equalization and effective channel estimation (CE) are important to polarization diversity when using OTFS for maximizing its utility, especially over time-varying channels. The performance of OTFS and OFDM systems was determined using joint equalization and pilot-aided channel estimation, particularly in high-mobility scenarios, using Bit Error Rate (BER). For both systems, a system model was introduced that uses Delay Doppler (DD) domain pilot insertion and equalization based on predicted channel characteristics using a Minimum Mean Square Error (MMSE) technique. The performance was assessed using simulations that utilize popular high-mobility channel models (EVA, ETU, UAV, and TDL-C channels) with high Doppler frequencies. Regarding channels with fast temporal variations, the results indicated that OTFS outperformed OFDM. This benefit was particularly evident in terms of enhanced channel estimate accuracy and resilience to Doppler spread, as demonstrated by other studies. The findings underscored that OTFS could serve as a dependable waveshape for 5G, 6G, and forthcoming mobile transmission systems.