What is the Difference between version 1 and version 2 web ids?
WebID version 2.0, introduced in PI Web API 2017 R2, provides different types of WebIDs (see: WebID Type). Specifying the WebID type gives you options for reducing WebID sizes (for URL length limitations), for identifying ambiguous paths/names of AF Event Frames and AF Notifications, and for accommodating path and name changes. Any existing WebIDs (from version 1.0) can still be used with newer versions.
Here is an interesting post about PI Web API - Web ID 2.0 Specification Tables.
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