An Azure relational database service.
LP means logical processor. However G4 hardware does not use hyperthreading hile on Gen5 it does. Please check this article about hardware considerations to better match your on-premise hardware to Managed Instance offerings.
Please use this resource to learn to create and compare a performance baseline when migrating your SQL Server databases to Azure SQL Managed Instance. This includes CPU benchmark.
About comparing storage subsystem take in consideration the Log write throughput and IOPS as explained here.
Finally, take in consideration Azure Managed instance resource limits.