Let me know difference between Page Property and Managed property?

Hi,

Let me know the difference between "Page property" and "Managed property"?

I want to classified news into categories for company uses. But when we connect to Hub Site or select more than one site, there is no option classified News into different categories.

Create a new column as a 'News Category' in Site Pages. There are no filter options in the News web part. In Highlighted Content, there is a Managed property but couldn't find News Category to filter News.

This is a big issue for company use. Let me know there are any other options for the News filter.

Thank you