Hello Neil,
Difference between these 2 libraries are memory footprint and other minimal peripherals changes for both MCUs. If you import ksdk_platform_kl27zxx lib you can see which derivate it is using, in these derivatives, you can see which MCUs are supported and also a reference manual to consult more information:

And if you review both Reference manuals you can see that differences between these processors:
Mainly, you can notice the memory size:

So, although both MCUs are KL27Z, they have differences that cause KSDK development team to develop 2 libraries.
I hope this can help
Regards,
Isaac
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