In Privilege page, I noticed that anyone who have 10000+ rep will be allowed to access to moderator tools, and I have known the suggest edit queue have the same limitation.
What are difference between the two tools' functions?
Moderator tools and suggested edits are two different things. To summarize, suggested edits show edits you can vote to approve, and mod tools show moderator flags on posts. More details:
Suggested edits can be approved by any user with enough reputation to do that action. So, if you have 2000 rep, you can approve suggested edits (5000 reputation is required for approving tag wiki suggestions). However, the suggested edits queue only appears in the toolbar and in
/review if you have 10k. There is a counter in the toolbar which indicates how many suggested edits are in the queue. The queue shows edits, with the previous version and new version side-by-side, with color-coded highlights of the changes. Buttons to approve, reject, or improve the edit are included underneath. Suggested edits apply to:
10k moderator tools are only available to users with at least 10k reputation. They also show a counter in the toolbar, indicating how many flags there are. Only flags with pre-selected options are shown; flags with a custom message are only visible to ♦ moderators.
The 10k mod tool queue shows all flags visible to the user, and various options to vote to close, vote to delete, flag as invalid, and so on, depending on the nature of the flag and the reputation of the user. Some tools are only available at higher reputation levels, such as protecting questions.
There are other 10k mod tools which are not part of the flag queue itself. These include viewing questions with high/low vote counts, a list of questions with close votes, and migration statistics.