My guess was that the LiIon has a lot more internal resistance than the LiPo, and the gizmo draws a lot of current: enough to cause the .1V drop in measured LiIon voltage. I sacrificed a balance extension cable for Science. I tested three such gizmos: a Hyperion, which I thought was the good one; a cheap one from Temu; and an even cheaper, wee deafening one. I tested with a battery of six Molicel P30Bs at 3.5 V/cell, although I just used it as a voltage source with a convenient connector. I assumed that the "ground" wire in the connector carried the current from the whole battery to the gizmo. The pictures show the measurements in milliamps.
The worst gizmo, the Hyperion, drew 29 mA. According to Molicel,
https://www.molicel.com/inr-18650-p30b/ , a fully charged (if that's what "0 SOC%" means) P28A cell has .028 ohms internal resistance. That would only account for a .8 mV drop. Multiplying that by 4.2V/3.5V would be just shy of 1 mV. It's a mystery. Maybe your gizmo sucks.