When you are syncing with iCloud Photos, the Photos Library on the iPhone will always be identical to the library on your, automatically. This is making working with multiple devices easy.
- Any photos or video you import on one device will automatically appear on the other device.
- Any photos or video you delete on one device will automatically be deleted from the other device.
- Metadata or faces or albums and folders or adjustments you add will automatically appear on the other device.
The draw-back of iCloud Photos is, that you have to plan the size of the Photos Library on your Mac so it will fit easily on your other devices - the bottleneck will be the device with the least storage. But it is making working with photos on several devices very easy. The second drawback is that we need to subscribe for more cloud storage, but the added bonus will be, that we will have an additional of-site storage of our photos and can recover them from iCloud, if the device gets damaged or or lost or stolen. I have been very glad, when I could recover my photos from iCloud, after my office got flooded and all Macs and backup disks have been damaged by the water.
The syncing with a cable is more limited - it is essentially one-way (photos we synced from the Mac to the iPhone cannot be saved back to the Mac and are of a lesser resolution) and it is easy to make mistakes, because we have to remember which items have already been synced before we can delete them from the other device. There is an option "Delete after import" when we import from the iPhone, but it is very risky, because it will erase the photos from the iPhone, before we can check, if they have been downloaded without transmission errors. We will not be able to repeat the download, if some of the photos are corrupted.