When the Node Only Option is selected, only points other than faces and edges are used to calculate contact force. General Contact always uses this option.
The Point Check option is used for selecting the target geometry to calculate contact force. Whether you should select or geometry depends on the geometry shape. As long as you can get a reasonable solution, the option is not recommended. This is only useful for an FE body which has a rough mesh and cannot be subject to the Factor for Internal Point option.
Select Factor for Internal Point if your mesh does not support enough points for contact. In the case of Rigid body contact, it is better to increase contact points by adjusting Faceset properties instead of using the Factor for Internal Point option (see Geometry Representation).