There are some real experts on this forum and I'm not one of them - with that caveat!
Hydraulic pros:
is very powerful and will pull all day long
Hydraulic cons:
Very difficult to drive assist, needs to have a pto to be quick, needs the engine running to work, expensive and complex
Electric pros:
Doesn't need the engine running, relatively simple to set up
Electric cons:
Won't pull all day, more expensive that it first seems to get a decent setup, not the same power potential as hydraulic