Jennifer Tilly believes being on The Real Housewives of Beverly Hills is “way harder than acting” — but she’s grateful to have series veteran Sutton Stracke showing her “the ropes.”

In an exclusive conversation with PEOPLE at the Tempted by Love premiere on Thursday, Aug. 8, the Oscar-nominated actress, 65, spoke about how being part of RHOBH in a “friend of the show” capacity for season 14 differs from her four decades of scripted TV and film roles.

“I’m so happy I get to spend more time with Sutton because in the last few years, since she’s been on Housewives, now I understand it’s so intensive and I didn’t get to see as much of her as I like,” says Tilly, referring to Stracke’s main cast role since season 11, after starting out as a “friend.”

Tilly — who previously appeared on RHOBH as a guest and is also known for playing Tiffany Valentine in the Chucky show and Child’s Play film series — went on to reveal Stracke’s advice for her transition into reality TV.

“She’s great because she’s kind of showing me the ropes because it’s a little intimidating,” Tilly says. “She’s a stellar Housewife. … [She’s] very forthright, like, ‘You need to do this or you need to do that.’ ”

Stracke, standing beside Tilly, replies: “No, it’s funny because I did Jennifer’s series Chucky. I never had done anything like that in my life, so that was new for me. Seeing [her] come on with us, I’m like, ‘No, no, no, we don’t cut. We don’t say action because it’s not scripted — you actually just talk.’ ”

Having earned her Academy Awards nomination in the Best Supporting Actress category for her role in 1994’s Bullets Over Broadway, Tilly now admits reality television is more difficult for her than making movies.

“It’s way harder than acting. You’re actually just kind of making it up as you go along,” she says. Stracke, 52, quips, “You’re real. We’re being real.”

With RHOBH’s 14th season currently still filming, Tilly is wondering how she’ll be portrayed once her scenes are edited and aired.

“[Editors] can do anything,” Tilly recently told Vulture. “They can make you the girl next door. They can make you the villain. They can make you the cranky one. They can make you the patient one.”

“It depends on what they want to show, what’s going to make the story,” she said. “When some Housewives were looking really bad on the show, and the fans are throwing mud at them, I had empathy for them because I thought, ‘What they’re doing is spinning a storyline out of thin air.’ ”

In the interview, Tilly also compared RHOBH to filmmaker Martin Scorsese.

“I’m pretty sure I was joking when I said it’s like my Scorsese,” Tilly clarifies to PEOPLE. “I was basically saying being on Housewives is a pinnacle of a dream, as it would be a dream to work with Scorsese. But being a Housewives fan and to be on [RHOBH], which is my favorite franchise, I was basically saying, ‘You don’t understand. It’s my Scorsese.’”

Aside from Tilly and Stracke on season 14, the cast includes returning Housewives Kyle Richards, Erika Girardi, Dorit Kemsley and Garcelle Beauvais as well as new Housewife Bozoma “Boz” Saint John.

The Real Housewives of Beverly Hills can be streamed on Peacock.