Think of latency and frequency like the delay for a response but how fast the response is given. You can have a slow response time, but then give the answer more quickly.
I.E. 1600mhz low latency means fast response time but slightly slower answer compared to 2133mhz
or 2133mhz higher latency but when the answer starts its quicker, but in DDR4's case uses less power(but only slightly).
These numbers are likely so close as to be indistinguishable but the real question is whether or not the DDR4 laptop will be up-gradable to even faster speeds down the road. If it is, then that is the road to go, if not then whatever is cheapest. The mobo/cpu/bios(XMP) specs are the deciding factor for that option.