@Mike Lee Thanks you for reaching out to Microsoft Q&A, apologize for any inconvenience caused on this.
- Logic App Standard have an extra option for Access Policies. This is because Logic App Standard runs in a single-tenant environment, whereas Logic App Consumption runs in a multi-tenant environment. Access Policies allow you to control who can access your connector in a single-tenant environment.
- Connectors created for Logic App Standard cannot be used by a Logic App Consumption and vice versa. This is because they are designed to run in different environments and have different capabilities.
When deploying connectors via ARM, you do need to specify a different kind version number depending on whether you're deploying a connector for Standard or Consumption. Connectors created for Logic App.
Yes, Standard Logic Apps use V2 Version and Consumption Logic Apps uses V1 version.
Feel free to reach back to me if you have any further questions on this.