Air vs Water cooler CPU

I'm sure this was asked at least a dozen times in the last two days, but which one would better for me? I'm building out a fairly compact computer using the Thermaltake V1 case that uses a mini itx board. I was between using the Noctua NH-L12 air intake or the NZKT Kraken 120 AIO water cooler. It'll be used to cool a Ryzen 5 7600x

Is there a big difference at all, or would either really suffice.

Thanks in advance!