A cutaway is a shot that inserts a different location into the main continuous scene. It is often used to show a different setting, flashback, or dream.
Cross-Cut
A cross-cut is rapid shifting from one scene to another scene, often at a moment of high drama. Typically shot in close-up, it gives multiple character perspectives within an individual scene.
For a visual breakdown, watch this video:
[What is an EDIT? All the Different Types EXPLAINED! (Film Theory)](https://www.youtube.com/watch?v=-_dQz25_h0s&t=121s)