A Cloud VPS, also known as Cloud hosting solution, and a dedicated server are quite different web hosting solutions in terms of setup and management.
A dedicated server gives you more freedom - you have root access to your accounts and to cPanel's WHM - Web Host Manager. From there you can create/remove/manage hosting accounts on the server yourself.
On a dedicated server you can also make global modifications to the server configuration. Furthermore, a dedicated server is more powerful than a Cloud VPS and offers more resources for your site.
However, if your site's resource needs cannot be met on a shared server but you don't have enough funds for a dedicated server, the Cloud VPS will also be a reasonable solution. It is easier to manage, you still have SSH access to your account and the resources will be dedicated solely to your website and the services it runs.
You can find more information about the differences between shared hosting and dedicated solutions in our tutorial.
