They mean the same thing, but they are usually used differently grammatically. Differences:
1. “Suitable” can be used as an adjective directly before the noun it modifies. E.g. “We found a suitable solution to the problem.” “Suited” does not get used this way.
2. “Suited” is almost almost heard as part of the phrase “well suited.”
3. “Suited” usually gets used as a predicate adjective (meaning after the verb “to be, rather than right before the noun) like this: “The solution is (well) suited to the problem.”