The XSX and PS5 version has much better gameplay speeds, different menus, and additional gameplay options. The most notable change is a new meter at the top of every game that acts as a Tug of War for momentum. Making big plays, getting big stops, scoring, causing turnovers, and other activities causes the gauge to shift who has the active momentum in the game. Momentum benefits include being more resistant to pressure, easier catching, identifying blitzes, messing up opponents routes, etc.
If you are able to preorder from XBOX and have Gamepass, you may still get 10 or 20% off the digital version. This is the route I took for my XSX, and the Dynasty edition comes with dual entitlement.
The XSX disc version that retails for 69.99 should work on the Xbox One S/X but it would be the "original" version; i.e. you would still have both versions. The Xbox One version which retails for 59.99 would only include the last gen version. The MVP and Dynasty editions which retail at 99.99 and 119.99 respectively are dual entitlement and come with both version.
My two cents, if you play a lot of MUT especially, is to preorder the dynasty edition on Xbox now because it will have XSX when you get your Series X later. It also comes with the most packs, exclusive preorder quests, and early access begins tonight at 12 AM.