Veracrypt

Cryptomator is first and foremost meant to backup files on a cloud service, adding end-to-end encryption.

Vera Crypt is meant to encrypt a bunch of files, a disk partition or a system disk locally.

Both of them are needed, but their use case is completely different. You could use Vera Crypt to encrypt files before backing them up in the cloud, but it would be very inconvenient.

I think you can use Cryptomator for local encryption as well, but I'm not sure how it compares with Vera Crypt in that use.