As Office 2019 is a one-time release, Office 365 is still the better choice with not only far more features (Co-Authoring, etc) unavailable in Office 2019, but also far earlier access to them than on-premises, non-subscription Office 2019, etc. Office 2019 provides a subset of features Microsoft has added to Office 365 over the past three years. Microsoft is following up with Office 2019 releases to consumers and other business customers, as well as SharePoint / Exchange / Skype / Project Server 2019 releases, in the coming weeks. Microsoft started the roll-out today of Microsoft Office 2019 for Windows & Mac – with major updates to Access, Excel, Word, PowerPoint, Outlook, Project, Visio, and Publisher – to commercial volume license customers.
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