Euclidean distance (norm of difference) and dot predict are proportional to each other, while they are not equal, but roughly the same.
After normalizing $a$ and $b$ such that$\|a\| = 1$ and $\|b\| = 1$,
these three measures are related as:
Euclidean distance = $\| a - b \| = \sqrt{\| a \|^2 + \|b\|^2 - 2
a^Tb} =\sqrt{2 - 2 \cos(\theta_{ab})}$
Dot product = $\|a\|\|b\| \cos(\theta_{ab}) = 1 \cdot 1 \cdot
\cos(\theta_{ab}) = \cos(\theta_{ab}) $
Cosine = $\cos(\theta_{ab})$
Thus, all three similarity measures are equivalent because they are
proportional to $\cos(\theta_{ab})$.
This is also discussed in here and in the Vector space model: cosine similarity vs euclidean distance thread and Wikipedia. There was even an empirical evaluation by Qian et al (2004) concluding that
Through our theoretical analysis and experimental results, we conclude
that EUD and CAD are similar when applied to high dimensional NN
queries. For normalized data and clustered data, EUD and CAD becomes
even more similar.
Both metrics are similar and there are no strong reasons to prefer one over another in general.