I think you mean the Phantom 2 Vision+ (P2V+) and the Phantom 2 Vision (P2V). These drones had a very poor image geolocation (it was truncated). That is why it was necessary for many users to transfer the .p4d file from Pix4Dcapture, as the latter stored more accurate data.
The image geolocation has improved with more recent drones such as the Phantom 4 Pro (P4P), so the problem that happened with P2V/P2V+ is not present. However, there is another problem that can occur, which is a vertical shift in the images coordinates. The latter was rooted down to how DJI geolocates the images. This problem cannot be solved with exporting the .p4d file, but solutions are described in this article.
As a summary, I would say that if you have a recent drone (e.g. P4P) you do not need to export the .p4d file, but can directly take the images from the SD card. The different ways to synchronize the images with the software are described here. If the vertical accuracy is important in your project, I would recommend to use Ground Control Points (GCPs).