There is no difference in meaning. The words "composite" and "compound" even come from the same Latin roots. That does not mean that you can use them interchangeably. Different people have developed habits of using them in particular ways. Chemists, for example, use "compound" to describe molecules since they are composed of "elements". They use "composite", by contrast, to describe combinations of substances that are mere mixtures, not molecular combinations. Chemists could have used the words the other way around, but once a tradition is established, you stick with it. So, you have investigate how each group uses the words. ChatGPT excels at this sort of thing. If you want to know how people in some group, say artists, use the two words, go there and ask: "From the point of view of an artist, tell me the difference between the meanings of 'composite' and 'compound'."

It's practically the same meaning, it just tends to apply to different types of things. For example: Composite is like something "composed" of many layers or things. It's a bit delicate or intricate, and often artistic. For example, composite artwork, composite wooden boards, etc. Compound is like sounding "pounded" together from many layers or things. Its a bit simpler and often heavier. Usually non artistic. For example, compound words, compound chemicals, compound bow & arrow, compounded problems, etc.