As far as I know is the difference between the versions that the lite variant does not come with any OS preloaded. Which means it is smaller but any selected OS must be downloaded first. So an Internet connection is mandatory.
And I'm not quite sure, but I think Noobs is not actively being developed anymore. But there is PINN https://github.com/procount/pinn which also has a greater selection of systems. You can check https://pinn.mjh.nz/ to see what OS is available for your Pi.