The difference is, that a Closure must be an anonymous function, where callable also can be a normal function.
You can see/test this with the example below and you will see that you will get an error for the first one:
function callFunc1(Closure $closure) {
$closure();
}
function callFunc2(Callable $callback) {
$callback();
}
function xy() {
echo 'Hello, World!';
}
callFunc1("xy"); // Catchable fatal error: Argument 1 passed to callFunc1() must be an instance of Closure, string given
callFunc2("xy"); // Hello, World!
So if you only want to type hint anonymous function use: Closure and if you want also to allow normal functions use callable as type hint.