Shooting real time and manipulating later gives more options for the speed and feel of the timelapse but uses lots more data. A big advantage of the real time approach is I often split landscapes with a mask and have sky timelapse while the foreground remains normal speed. Very effective on shots where the wind is blowing trees which move at normal speed and the clouds race across the sky.
The big difference is you are not using long shutter times like on a stills camera with intervalometer can. So water blurs will look different.
For flicker I like the Digital Anarchy Flicker free OFX plugin best. I’ve got the Boris CC flicker fixer plus the one in Resolve Studio but Digital Anarchy seems to give the best results for timelapse.