
erregend
arousing
Something that causes sexual desire or excitement.
Viele empfinden die Szenen in dem Film als erregend.
Many people find the scenes in the film arousing.
arousing / exciting
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arousing
Something that causes sexual desire or excitement.
Viele empfinden die Szenen in dem Film als erregend.
Many people find the scenes in the film arousing.

exciting
Something that causes strong feelings such as excitement, suspense, or even anger.
Die politische Debatte war ein erregendes Schauspiel.
The political debate was an exciting spectacle.

excitatory
In medicine or biology: triggering a reaction or impulse in nerves or muscles.
Der erregende Reiz führte zu einer Kontraktion des Muskels.
The excitatory stimulus led to a contraction of the muscle.
'Erregend' is the present participle of the verb 'erregen' (to excite/arouse). It describes something that actively causes 'Erregung' (excitement, arousal, stimulation) in someone or something. This form is often used to describe the property of a thing that has an effect on others.
Die Rede des Politikers hatte eine erregende Wirkung auf das Publikum.
The politician's speech had an exciting effect on the audience.
The sexual meaning is very prominent in everyday language and can overshadow the other meanings in unclear contexts. Whether general excitement or a medical impulse is meant is usually made clear by signal words such as 'Debatte' (debate, excitement) or 'Reiz' (stimulus, medicine).
Die Entdeckung war wissenschaftlich sehr erregend.
The discovery was very exciting scientifically.
A very common and important combination is 'Aufsehen erregend' (sensational, attracting attention). This expression means that something creates great public interest or a sensation and is often used like a single adjective.
Der Künstler präsentierte ein Aufsehen erregendes Werk in der Galerie.
The artist presented a sensational work in the gallery.
The meaning in the medical or biological sense is purely technical language. It is used to describe the triggering effect of a stimulus on nerves, muscles, or cells. You will hardly ever hear this usage in everyday language.
Der erregende Impuls wird über die Nervenbahnen weitergeleitet.
The excitatory impulse is transmitted through the nerve pathways.
exciting
Both words can express strong feelings or excitement caused by an event. In everyday use, „aufregend“ is the clear choice for something thrilling or captivating. „Erregend“ can also mean causing strong excitement, but it sounds stronger and, depending on the context, can also be understood sexually.

Die dramatische Rede war für viele Zuhörer erregend, weil sie starke Gefühle auslöste.
The dramatic speech was arousing for many listeners because it triggered strong emotions.
Der spannende Film war für die Zuschauer aufregend und mitreißend.
The thrilling film was exciting and captivating for the viewers.