Depends on the year. In general the LC was Toyota's high end SUV. Built like a tank and very capable. Had solid axles and optional lockers until 1997. After that they got bigger, got a V8, and lost the solid axle in front. Rear locker was a option for a few years.
The Sequoia is Toyota's Tahoe/Expedition fighter. Its longer than the LC and shares mechanical drivetrain, etc. The LC will be more $$ but off road they are better and have more aftermarket support.
The new models of each have a lot of Tundra truck in them. Again the LC will have more gizmos and gadgets and will cost more.