Almost nobody chooses SBV. You end up with one because you downloaded your own captions from YouTube Studio, which produces that format natively, and then found that the editor or platform you wanted to use them in does not accept it.
The format itself is simple and the difference from SRT is narrow. SBV puts both times on a single line separated by a comma, with no cue number and no leading zero on the hour. SRT numbers each cue, puts the times on their own line joined by an arrow, and separates milliseconds with a comma rather than a period. The caption text is identical in both.
That is why this conversion is safe to run on a track you have already reviewed. Nothing about the wording, the line breaks inside a cue, or the order of cues changes. Only the syntax around them does.