Chrome moly if left bare on the mating surfaces, like the bolt raceway, will be slicker than stainless, so the action will feel smoother.
Otherwise, they are identical from a function and safety standpoint, save stainless takes a lot longer to rust, but it will rust if not taken care of. Cerakote does even the playing field a lot. The interior of the action isn't cerekoted, but water is also harder to get in there.
Keep in mind that not all parts are necessarily cerakoted or stainless, like the mag box, firing pin, springs, etc. They need attention for good function in wet or extreme cold weather. Take it all apart, clean with brake cleaner, spray with a light coat of silicon/teflon dry lube, re-assemble. Do this first thing, then do it if the gun gets drenched. The firing pin is heat treated, and doesn't need a lot of lube for good function.
Jeremy