The 2025 OBBBA created separate deductions for qualifying overtime and for tips. Which helps you more depends on your mix: a tipped server and an hourly worker pulling overtime hit the caps differently.
Both are deductions claimed at filing, not exemptions from withholding, so your paycheck looks the same until you file. The benefit is a lower taxable income, within annual limits.
If you earn both tips and overtime, model them together — the combined deduction interacts with your bracket and can shift your effective rate more than either alone.