TArray<Byte> VS TBytes VS PByteArray

TArray is declared as "Array of Byte", as is TBytes. You missed a further very relevant type however, TByteArray (the type referenced by PByteArray).

Being a pointer to TByteArray, PByteArray is strictly speaking a pointer to a static byte array, not a dynamic array (which the other byte array types all are). It is typed in this way in order to allow reference to offsets from that base pointer using an integer index. And note that this indexing is limited to 2^15 elements (0..32767). For arbitrary byte offsets (> 32767) from some base pointer, a PByteArray is no good:

var
  b: Byte;
  ab: TArray<Byte>;
  pba: PByteArray;
begin
  SetLength(ab, 100000);
  pba := @ab;             // << No cast necessary - the compiler knows (magic!)
  b   := pba[62767];      // << COMPILE ERROR!
end;

i.e. casting an Array of Byte or a TArray to a PByteArray is potentially going to lead to problems where the array has > 32K elements (and the pointer is passed to some code which attempts to access all elements). Casting to an untyped pointer avoids this of course (as long as the "recipient" of the pointer then handles access to the memory reference by the pointer appropriately).

BUT, none of this is likely to change in the future, it is merely a consequence of the implementation details that have long since applied in this area. The introduction of a syntactically sugared generic type declaration is a kipper rouge.