Very different risks.

Physical CC can be used by anyone holding it or actually just standing close.

Contactless payment with phone only after the phone is unlocked().

Physical card contactless payments have a limit (don't remember it) after which you have to use it with pin. At least all mine. Boring. Payments with apple/hoogle/Garmin have higher transaction limit.

I could probably go on longer but these are for me.

() I know it can be done without, but it also can be done with.