When should you counterbore a hole vs counter sink a hole?
Though for most applications, both are effectively the same, countersinking has an angled profile whereas counterboring has a flat profile. Because of this, the connecting force is directly perpendicular for the latter meaning it provides a stronger connection. On that basis its more appropriate for heavy duty applications where this may be a concern.
On the flip side, countersinking is faster to do. So that’s its pro.
Counterboring also typically requires more space so where that may be a concern (designing small PCBs or aesthetics are high priority) countersinking may be the desired choice.