In Mongoose, the subdocuments are considered to be those documents that are embedded inside the other documents. The instance that you have shown, both are implying the same thing that is embedded documents. There are no pros and cons regarding the subdocuments and nested documents. The nested schema is very similar to the top-level schemas as this nested schema comprises middleware, custom-validation-logic, and virtuals. The subdocuments are incapable of saving individual documents. Instead, they are saved when their top-level parent document is saved.
You can refer to this documentation if you want to get a detailed explanation regarding the same.
For more clarity, you can check out this MongoDB Training Course.