The big difference is in time length of the procedure and the temperature/pressure used. Maceration usually uses mild conditions over long periods while hot water extraction uses high temperature/pressure over short time. There are plus and minus sides to both of them. Maceration is good for extracting water soluble compounds that are stable and will not hydrolyze. Hot water extraction is good for higher output but it can damage more unstable compounds like esters. It will also extract water insoluble compounds as opposed to maceration. You can preform maceration in different solvents to get different groups of chemicals.
Thankyou for your answer, as i could see in the literature that maceration can be performed at room temperature while hot water extraction needs boiling temperature of the water..thanks@Mateo.. I am clear about it now.