InputField is newer than TextField and has more options, such as the ability to set the type (e.g. text, tel, email), autofocus, autocomplete, placeholder text, css class and maxlength.
On the other hand, TextField supports taste, which allows you to turn a text field into a text field with a single line, text field, markdown editor, html editor or any other flavor provided by any module.
In my opinion, we should consider getting rid of the input field and updating the TextField in the kernel with the capabilities found in the InputField. This avoids confusion and at the same time provides greater flexibility.