The Turnitin External Tool is the full Turnitin assignment. This tool gives faculty access to the Turnitin Assignment Inbox, Similarity Report, Feedback Studio, QuickMarks, and Rubrics.
The Turnitin Plagiarism Framework can be thought of as "Turnitin Lite." Faculty can use a regular Canvas assignment and add on a plagiarism check, which is the Turnitin Similarity Report.
To view a side-by-side comparison and decide which tool is best for you, see Turnitin's External Tool vs. Plagiarism Framework article. (Note Butler is using the 1.1 LTI, not the 1.3)