Big fan of the growth-hormone releasing peptide personally. Currently running it and expect it'll stay part of my routine going forward. I'll probably always lean toward it over the older-generation option.
That said, I wouldn't dismiss the older one entirely either.
As mentioned already, the newer peptide was specifically studied for cutting visceral fat in people dealing with HIV-related fat redistribution. On average those patients carried far more visceral fat than the typical person just chasing body composition improvements.
I don't think there's an equivalent study for the older compound, so calling it a truly fair side-by-side feels premature. Especially once people start stacking it with a second releasing peptide.
Personally I wouldn't be shocked if results ended up fairly comparable long term, though that would hinge on the person, what they eat, how they train, how consistent the dosing is, where they started body-fat-wise, and so on.