I have a 4K UHD monitor and I've tried USB-C -> DisplayPort and USB-C -> HDMI. I presume that the non-USB-C monitor comes with HDMI. So this is my observation - I have not done the research to back this up (you can do that if you care to do so). It appears that the HDMI conversion requires electronics on the HDMI side - the connector on the cable I have is larger than usual and it is a little warm when in use which to me is a clue that there is active electronics there. On the other hand on the DisplayPort cable, the DisplayPort connector is a typical size and it is not warm at all. I don't recall a regular HDMI cable connector to the monitor being warm. For computers (a lot of Macs) that had the Mini-DisplayPort port, in order to drive an HDMI monitor at higher (>1920x1200) resolutions, there had to be active electronics in the DisplayPort->HDMI cable for it to work. So that's probably also the case with computers with the USB-C DisplayPort connector. Again, I haven't done the research on this but that's probably the case. All of this doesn't mean it isn't worth it for the £80 savings - you should just research the cables before buying and consider buying a spare (of a different brand) so you won't be inconvenienced should the cable fail (due to the electronics, which I'm presuming is in there).
Picture-quality wise, I didn't notice a difference between the two.