Cpk is known to be the possibility of a process to meet a certain specification for a short amount of time. The PPK refers to the process that would actually be used for a long time. This means that this will be used for the long term.
Another difference between the two is CpK can be used for a subgroup of data. PpK is known to be used for the whole process. In theory, PpK is not known to be possibly higher than CpK. There is just a possibility that PpK can be higher than CpK. This is possible if you have no subgroup variations in order to find the right measurements.