These two bayonets appear to be almost identical. The brass hilts appear to have been made from the same mold and the dimensions of the hilt, muzzle ring width, muzzle ring diameter, lug slot, press stud and press stud spring appear to be the same.
What makes them different
The Lock-to-Muzzle Length is the only true difference between these two bayonets. Variation 1 has a 102 millimeter lock-to-muzzle length and Variation 2 has a 98 millimeter lock-to-muzzle length. A full four millimeters that is easily seen without measurement.
A quick identification method is the location of the spring screw. It is located in the sixth rib from the pommel for Variation 1 and the seventh rib for Variation 2.
The guide slot extends to the fourth rib for variation #1 and fifth rib for variation #2.
Also note the location of the press studs in the pommels.
Speculation and questions
It certainly looks like there was a change in the location of the bayonet lug on the rifles' barrel. Why is the mystery.
Two observed examples with 102 millimeter lock-to-muzzle lengths are serial numbered C,48596 and C,48835. The example with a 98 millimeter lock-to-muzzle is serial numbered C,48767. This overlap of serial numbers makes it appear that the variations were occurring at the same production period.