Please refer to this attach file, i have explained some differences while i have mentions the references where you can get more details

1. CB-SEM is used mostly when you have an existing theory to test, whereas PLS-SEM is appropriate in the exploratory stage for theory building and prediction.

2. If the goal of your research is model fit, go for CB-SEM but if you want to maximize the R square opt for PLS-SEM.

3. Also PLS-SEM is preferable when you have higher order models and formative measure constructs.

Please check the attached file. Hope it helps.

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There are reasons why PLS is to be used.Im case you are using formative scale...if the sample size is small to go for sem then one can go for pls sem