Moderated chat versus group chat with moderation

This is a question that is asked a lot.
What is the difference between a group chat that has moderation capabilities versus a moderated chat (queued chat)?

Here is the difference:

1) A group chat allows you to moderate, meaning, an admin can delete messages after they were already sent.

2) A moderated chat (Q&A chat or sometimes it is called a queued chat) allows you to approve messages before they are shown in the public chat.