from my understanding both options are disable swap completely
Incorrect. Setting swappiness to 0 does not disable swap.
"Swap" is basically just virtual RAM on your hard disk. It is used when your RAM is out of memory. Turning swap off means if a program needs more RAM, it crashes. Don't do that. Have a swap file. Since modern default Ubuntu installations (ex: Ubuntu 22.04) do not provide a swap file by default, however, you have to manually create one after installing Ubuntu. Here is my answer on how to quickly and easily make one.
Setting swappiness to 0 is fine. It does not disable swap space. I know this. I've tested it extensively and still see my swap grow. I've also read the description for swappiness in the Linux source code. Rather, it defers using swap to as late as possible until it can't fine a way to free RAM and decides to move some memory in RAM to swap space anyway.
See also my answer about swappiness and how to configure it. I've included the Linux kernel source code quotes here describing it too: Ask Ubuntu: How do I configure swappiness?
End of answer and beginning of anecdote and personal experience with swappiness.
I have found that setting swappiness to 0 significantly improves the performance of my system which has 32 GB RAM, a 64 GB swap file on a high-speed m.2 SSD, and which is continually running out of RAM.
With swappiness set to the default of 60, I'd regularly get 1 to 2 minute lockup periods while kswapd0 is running (as shown by top) to try to swap memory for some memory hog application like Chrome, Slack, Eclipse, or Google Meet (within Chrome). I'd start to get these lockups at 80% full RAM. The computer would be completely unusable during this time--unable even for me to type into a terminal or click on a menu.
Setting swappiness to 0 significantly helped!. I started not getting really high CPU usage until 90% RAM full, swap space would still get used plenty--but more efficiently, and when my RAM did get almost full my computer would become very sluggish, but still barely usable rather than completely unusable!
See some of my symptoms here, which I originally thought were due to a bug in Google Meet, but now think were due to memory swap making my computer slow: https://github.com/ElectricRCAircraftGuy/bug_reports/issues/3#issue-1177137900