The main disadvantage of pursuing a B.Com P instead of B.Com Hons is the syllabus. Delhi University B.Com Hons syllabus has a perfect blend of theory and practical subjects. You can also specialize in some subjects. B.Com Hons covers the subjects in more detail compared to B.Com P.
This is why recruiters prefer B.Com Hons students over B.Com P students. If you are planning on pursuing CA or CS, then pursuing B.Com (H) will be better.
The courses B.Com (pass) and B.Com (honors) do not have a massive difference in the range of advantages and disadvantages.
Any degree earned from DU has a reputation of its own. It is also mandatory to have studied Maths if you apply for B.Com (honors) unlike B.Com (pass).