HD radio has better audio quality. Plus there are extra radio stations. There can be two or three stations per FM frequency. Most of the extra stations are niche music. I can hear the sound difference between normal and HD radio but I have a nice sound system.
The station ID/song information was affected when I installed the HD radio ACM with an improper configuration. I fixed the configuration for HD stations but now the non-HD stations don't have ID info (I think it called RDS). Some other forums complain about Ford's implementation of station ID in the ACM and how there are problems across the product line. Apparently ACMs after 2018 work better for station ID. I don't know if these 2018 ACMs will work in older Transit Connects.
You can find HD ACMs for under $100.