There are two electoral scenarios to re-elect George HW Bush, and they provide different optics.
The first is the "landslide" the OP formulated. After thinking this over, something like this is achievable with no Perot campaign, and a Clinton campaign that is heavier hit with scandals than IOTL, perhaps even to the point where he loses the Democratic nomination to either Tsongas (and then it comes out how bad Tsongas' health is) or Brown. Or Clinton gets nominated but left for dead. This creates a Nixonv vs McGovern scenario.
The second scenario, which is more plausible, is that Bush grinds out a narrow plurality victory, without nothing much changing during the campaign, just a bigger last minute swing towards Bush. Give Bush an extra 3% to his nationwide popular vote, take 4% off of Clinton, with Perot doing 1% better, and you get a nationwide popular vote win for Bush of about 1%. And yeah, for Electoral College fans I checked he he would get the Electoral College majority with that swing. Bush gets re-elected and sets a record for the lowest nationwide popular vote percentage, just over 40%, to re-elect a President. In fact, he is second to Lincoln (or third to Lincoln and JQ Adams) for the lowest nationwide popular vote of any presidential election winner.
The first scenario probably goes as the earlier commentators say, but the Democrats look alot weaker and less viable as a party. They may do better than they did in the 1994 congressional elections, but do worse in the 1992 elections. But since Bush was not really that popular when he wins his landslide, the bottom falls out of his support more suddenly when it happens. With the second scenario, the second Bush administration is pretty unpopular and contentious from the start, the best OTL parellel would be Trump, and he doesn't get much done. He may not even get NAFTA through in this scenario.
And some results in individual races in 1994 go the other way. Cuomo is probably elected for a fourth term as New York governor, Richards also wins in Texas, there is a good chance neither of the Bush sons are candidates for elected office, Tom Foley also wins re-election. Also there is a good chance the Dinkins beats Giuliani a second time for New York Mayor and Guiliani leaves politics in 1993, that race was really close and would have been affected by higher Democratic turnout.
Dole probably still wins the 1996 Republican nomination in either scenario. But with the Clinton meltdown/ Bush landslide scenario, the 1996 Democratic nomination is wide uopen. With the narrow plurality win scenario, there is a good chance the Democrats will run Clinton again, or nominate Gore. And the Perot campaign would be viewed differently in these timelines, given that in the first scenario he doesn't even get back into the race.