The Fundamental Difference
ISO 26262 (Functional Safety) addresses hazards caused by malfunctions of electrical/electronic systems -- failures, hardware faults, software bugs. Its question is: "What happens when the system fails to perform its intended function?"
ISO 21448 (SOTIF -- Safety of the Intended Functionality) addresses hazards caused by limitations of a system that is working correctly. Its question is: "What happens when the system performs its intended function perfectly, but the intended function itself is insufficient for safe operation in some scenarios?"
Example: An automatic emergency braking (AEB) system that correctly executes its algorithm but fails to detect a pedestrian in heavy rain because the algorithm was not designed for that scenario. No malfunction occurred -- the system did exactly what it was programmed to do. But the outcome was hazardous.