Seeing as how it’s one of the few components still selling at a somewhat reasonable price, near MSRP or even better some times.  MSI added less yellow to the second version of the MAG B850 TOMAHAWK MAX WiFi II compared to the original.

That is indeed the only change, apart from the fact the new model will run you a few more bucks to buy since it is new.  The good news is MSI didn’t remove anything from the second version of the MAG B850 TOMAHAWK MAX.  You will still see four M.2 ports, two Gen5 x 4 and two Gen4; one being 2x.  The rear panel offers four USB-A 2.0, three USB-C 10Gb/s, two USB-A 10Gb/s and one 5Gb/s, not to mention both WiFi and 5GB LAN.

The power will handle high end graphics, even if your pocketbook can’t, with 14+2+1 Smart Power Stages and 80A available.  The differences are only aesthetic, but perhaps you almost bought the original TOMAHAWK MAX WiFi and decided not to because the colours clashed with your build.