Waypoint Network will generate a desired path for a bot to follow, basically in a procedural way. It needs destinations that are set by you. They can be dynamic, random, or sequential - whatever you decide. Newer, more advanced games do this.
Waypoint Route is a defined path where the bot will go from one node to the other back and forth in a more predefined way. It’s not really designed for decision-making, although I think it can, but you don’t get much control over which node the bot will follow. Older games used to use this to feign intelligence.