The Nox certainly has more options, which I prefer. They may not be essential - Inoviq chips cover the essentials well enough - but it is nice to have the other options available, just in case you ever need them.
The Nox chip has a good feature set, and a good selection of modes, and all the adjustments you are ever likely to need, without being absurdly expensive like some other aftermarket chips.
From my own perpective, I already owned a Nerve in which I had used a Nox Shocker board, so I was already accustomed to the features that a Nox board gave me, so it was only natural for me to like the Nox chip anyway. I guess that makes my opinion biased, but so be it.
The Inoviq chips get the job done, but I just like Nox more.