Firstly tramming is important. Tighten unused axes for every cut once the head is trammed (with the axes clamped).
Larger cutters are better but any out-of-tram in either axis would leave fewer but larger ‘bumps’ between passes.
Fly cutters will leave ‘undulations’ as they will cut a wide shallow arc if not trammed perfectly. This may affect squaring-up more than several ridges on the workpiece when tightening against the fixed jaw.
Fly cutters are slower due to one cutting edge and speed limited due to high surface cutting speed and possible out-of-balance issues.
End mills can cut top and ends of workpieces.
Fly cutters are easily re-sharpened and are much cheaper to run, after the initial purchase (if not made in the workshop).
End mils are expensive and not easily sharpened. Generally have to be bought in, not home made.
For one-pass cutting, the cutter will clearly need to be bigger than ‘about 20mm’. The 20mm capacity is likely for steel – it will be larger for softer materials.