Hello,
Ok, so these are two relatively new protocols. And they are used in different parts of the world. Both of them use less power, and are slower than normal 4G devices. This makes them cheaper to manufacture and also gives them much better battery life. Speed is still enough for normal telematic uses.
CAT M1 seems to be used a lot in north america and europe, (but not much in the UK). only one carrier in UK has it.
NB IOT is used in other places. (unsure where exactly, but I know indonesia is working on some roll out in some areas)
Australia supports both, but many countries only support one, or none. Africa for example has very little CAT M1 and maybe no NB-IOT.
You will probably not notice any difference in the way they work, or even speed. It should work just the same. I have used other telematics in both CATM1 and regular 4G and there is not difference at all in the way they work. CATM1 and NBIOT are great, but the catch is that you can only use them on CATM1 and NB-IOT networks respectively, and not regular 4G (which is referred to as CAT1)
I hope this helps a little.
All the best - L