Office 2019 comes with Word, Excel, PowerPoint, and Outlook, but it includes only a limited scope of features and does not have the same benefits available with a Microsoft 365 subscription. However, when you have to upgrade from Office 2019 to the upcoming Office 2021 or another version in the future, you will have to purchase the software again.
In other words, you can continue to use the apps for their lifecycle (usually five years) and beyond (without updates). The standalone version of Office (also referred to as the 'on-premises' or 'perpetual' version) allows you to install and update the apps on one computer, but you cannot upgrade to the next version. This means you own the copy forever after the one-time purchase.
Microsoft Office 2019 is the name for the standalone version of the product, and it's the offering that does not require a subscription. Although these offerings give you access to the same set of apps, the difference comes down to the list of additional benefits and costs. If you are new to Microsoft Office or plan to upgrade the suite of apps, you will come across two products, including Office 2019 and the Office apps from Microsoft 365, making the decision a little more difficult.