What is the Difference Between Apple's Spanish and Latin American Keyboards
You can see the differences in the layout between Apple's two Spanish language keyboards in the images below. They are primarily at the right edge. The Spanish keyboard has a key printed with Ç (for use in Catalan) while the Latin American keyboard does not. Spanish has @ on Option 2, while Latin American has @ on Option Q. Spanish has square and curly brackets on the Option level. The keys with orange borders are dead keys for making accented characters.
Spanish (Input Source = Spanish ISO, or in latest Monterey, Spanish):
Latin American (Input Source = Latin American):