It's not either/or. USB-C is the connector you plug your charging cables or peripherals into; USB4 is the latest USB standard. It's also important to note that while all USB4 cables use USB-C, older USB-C connectors won't support USB4's higher bandwidth. That means if you plug a USB4 device into, say, a USB 3.2 port, you'll be limited to that standard's max 10 or 20 Gbps bandwidth (depending on the generation), not the 40 Gbps first-gen USB4 is capable of.
USB4 launched back in 2019, so if you've bought a new PC or laptop from 2020 onward, there's a good chance your hardware supports the latest USB standard. As for how to tell whether your device is compatible with USB4, check the connector for either a "USB4" or "Thunderbolt" lightning logo (USB supports Thunderbolt 3 tech). Not all manufacturers label the ports on their products the same way, so if you're still unsure, check your device's manual to find out whether it's USB4 certified.