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Transmission or transfer case. Transmission is above that heat shield, nearest the engine/front axle. Transfer case is nearest the rear axle. Cannot tell which is leaking from the photo. There are some common leaks, the mechatronix seal on the transmission is there and the front seal of the transfer case. That looks very heavy for either of those.
When dealing with leaks it is best to clean the area well and then monitor. If it were me, I’d remove the heatshield and clean everything, then drive it around the block and see if the source is obvious. You won’t want to go far without that heat shield because the exhaust will cook your transmission fluid.
Looks like a pretty significant leak, so I’d imagine whatever seal has failed needs to be replaced. If it’s transfer case, that has to be removed to replace any seals. If it’s transmission, several can be replaced in car without major heartache.
Found the issue. Local LR shop found one bolt on transmission pan was loose. I’m the bolt was only partially threaded in. Odd but retightened and no leak.