I find APCA is a little stricter than WCAG for light themes, and APCA is much stricter than WCAG for dark themes, to the point where you really shouldn't use WCAG for dark themes. So most of the time APCA is giving you stricter contrast that easily pass WCAG also.

I keep seeing mentions that APCA will let you finally use e.g. white on orange, or white on vibrant blue that pass APCA but fail on WCAG, but my feeling is there's not a lot of examples like this and most of these pairings only have okay contrast anyway, not great contrast, so it's not ideal to be stuck with WCAG's false negatives but not that big of a deal.