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Hi Thomas and welcome. The only difference is model 5100301 has a threaded barrel with thread protector. Cheers and stay safe!

Here the 5100301 model, you'll notice the Threaded Barrel immediately.
https://www.budsgunshop.com/product_info.php/products_id/91615/walther+arms+ppq+tactical+.22+lr+4+12+1+black


Here's the non threaded model 5100300

https://www.budsgunshop.com/product_info.php/products_id/91613/walther+arms+ppq+.22+4+12+1+black+polymer

model 5100301has a threaded barrel

Hi Thomas, 301 has a threaded barrel, 300 does not. Stay safe & have a great day!