Hello,
There's a slightly difference between both.
"Wait (ms)" stock VI waits for the time you've wired to it.
"Wait Until Next ms Multiple" watches present time and waits until present time (a bit like "Tick Count (ms)") is a multiple of the time length you've wired to it. This means that the wait could be from 0 to the time length you've wired.
Hope this helps !
Julien