So, the Penta is louder than the M4?
lol...no, they are All ear bleedingly loud with their baffles out.
There will be a slight, slight, difference in tone with a carbon fiber muffler, vs steel, titanium, aluminun, etc, where the metal mufflers sound more raspy, vs the carbon fiber, which sound more, muffled, lol, for lack of a better description.
The carbon fiber muffler can also be grabbed bare handed with the bike running, it will be hot, but not melt skin off hot like a metal muffler.
I've seen quite a few boots melted by short metal mufflers, including mine...on other bikes.
Think of that in terms of radiant heat, especially if you ride at low speeds, heavy traffic, or with a passenger.
If you cruise backroads, or drag race, it really isn't an issue.
Which sounds better is all personal opinion.