You don't have to use an LTS version if you don't want to stick to it... Also Fedora is on a yearly upgrade cycle too, just so you know, it's not a rolling distro. You can actually upgrade sooner on Ubuntu because it's on a 6-month upgrade cycle.
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Not really. Dnf is slower and Fedora prompts to reboot to install updates.
There also is a slight different system setup with a different kernel and different automatic mounts. It won't make any difference unless you are tweaking your system at a fairly low level.