Hi, the Oculus VR branch of the unreal engine has all the latest features implemented by Oculus which you may not find in the official release you get from Epic’s Github or the launcher. Some experimental features lag a few versions behind.
To give you an example (don’t remember the exact versions, it’s just an example) Fixed Foveated Rendering which greatly improves rendering performance literally for free, was already available let’s say in the 4.19 Oculus branch but made it into Epic’s Unreal branch in 4.21. If you were developing a Quest or Go game/application which would benefit from a performance boost you may want to download the Oculus latest branch and either test or develop using that version.
Another example is the quest hand tracking, somebody was so kind as to make a plugin which only works with Oculus 4.24 Unreal’s branch, if you are like me itching to play around with it you definitely want to get Oculus 4.24 branch and develop with it.
Hope this answer your question.