A circle was created on right plane and projected to cone surface. Whether you use Split Line or Project Curve tool the result is same. What is the different between these two tools? Part file is attached.
The Split Line tool will change the face ID of the cone face which all features that reference that face further down the tree will use. This means that if the Split Line has to be deleted and remade it may cause other features downstream to fail due to yet more face IDs being created. The projected curve won't change anything about the face ID but will still serve as a reference for other features (lofts, etc). If the curve becomes damaged it can be more readily repaired without as many downstream feature errors.
That's been my experience with these.
It is highly appreciated if you could support with example.
I don't make it a habit to keep broken example files around but if I come up with something I will be sure to post it here.
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