The main difference that Denuvo does nothing to improve the experience of the end user.

I don't like Anti-Cheat solutions with elevated privileges but they have (at least for some time) reduced the number of Cheaters in games like Valorant or BF, for most users this is at least a somewhat understandable tradeoff. Denuvo on the other hand is DRM and a pure tradeoff in favor of the publisher at the cost of the consumed.