The difference between the two security features is that Safe Browsing will compare a visited site to a locally stored list of domains, compared to Enhanced Safe Browser, which will check if a site is malicious in real-time against Google’s cloud services.
While it may seem like Enhanced Safe Browsing is the better way to go, there is a slight trade-off in privacy, as Chrome and Gmail will share URLs with Google to check if they are malicious and temporarily associate this information with your signed-in Google account.
I think they are specifically saying the apps will share it with the company, but yes, it is very poorly written/ambiguous/seemingly redundant as is. Apps don’t (typically) just send literally everything you do directly to the company.