CSV carries no formatting, formulas or multiple sheets, and Excel often misreads its dates and encodings. KML opens in Google Earth and Google My Maps. CSV is at home in moving tabular data between systems; KML is the usual choice for places, routes and tours viewed in Google Earth.
Every format is read into plain GeoJSON features and written out from there, so coordinates, names and properties carry over wherever the target has a place for them. The first row must name a latitude and a longitude column (lat, latitude, lon, lng, longitude and similar); name, elevation and time columns are recognised, and every other column becomes a property. A row with no valid coordinates stops the conversion and is named. Altitude and per-point timestamps are kept; a line with timestamps is written as a Google Earth track that can be played back. Coordinates outside the latitude and longitude range are refused, since the file is probably in a projected coordinate system.