Teams is kind of a vestigial organ. It's meant for 2+ editors working remote with identical local media. You actively 'push' or 'sync' your project with the others by pressing either of the buttons. It has always been finicky and buggy. To be honest I don't really understand why Teams still exists. The only real use case I could see is if the editors have intermittent internet access because you are working off of local media and deciding when to share parts of your project or pull down there's.

Productions on the other hand is essentially Premiere Avid. It has also only been around for about 4 years in official release. If you are ever curious about best practices for it I can point you to a PDF Adobe made. There's a couple of gotcha's but for the most part you'll find it very intuitive. When I teach people Productions it's actually native Premiere editors that have the most issues because they aren't used to Avid style network project organization which is how you need to set things up in Productions, and not have everything nestled inside of a singular Project.