@Brandon Peters Thanks for posting in our Q&A.
They will both restores a device to its factory default settings. However, if we choose "Retain enrollment state and user account", wipe action is different from PC reset. Wipe actions only wipes all MDM policies and keeps user accounts and data.
Generally, we use wipe action for giving the device to a new user, or when the device has been lost or stolen. When the device is lost or stolen, we can't touch the device to do reset action. We can only wipe it in intune portal.
Intune is a management service. It can manage devices. Based on my experience, it is more convenient to do something from intune portal.
Hope it will clarify something.
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