I believe the purpose of the urban charger is a smaller form factor for the cabinets and lower overall power consumption. Not all locations can support the V2 or V3 infrastructure.
I don't believe the cabinets are any different in size because it requires the same amount of circuitry. The power modules provide 36 kW and are ganged 4 together with each one connected to one of the two cars connections. What most call the "charger" is actually largely an empty cabinet built to be distinctive. That's why it has the big, open oval in the middle. It's a sleeve that slips over the two poles that secure it to the ground. The urban charger pedestal is just a smaller empty enclosure with simpler attachment. The electrical maximum is the same 144 kW, so the electrical supply and consumption are the same.
To the best of my knowledge they were designed intending to eliminate the low initial charging rate because of the PR aspects. I know there have been times I've moved once or twice to find a faster charging spot, but the reality is that doesn't last long since the car getting the fast rate will quickly reach a slower charge rate and more will be available to my car. If you aren't on a tight schedule it's no big deal either way.