"Base compiler" vs "variants" switches

What is the difference between these two opam switches:

ocaml-base-compiler      4.14.0               Official release 4.14.0
ocaml-variants           4.14.0+options       Official release of OCaml 4.14.0

and will it affect the ability to install libraries?

The difference is described in this post. In a nutshell, opam-base-compiler is a “vanilla” compiler, while the +options compiler can be reconfigured without recreating the switch. For example, on a switch based on a +options compiler, it’s possible to opam install ocaml-option-afl to make the compiler use AFL instrumentation (which will also rebuild all packages in it).
Most libraries are compatible with all options, but some packages are incompatible with a certain one.

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