If it is GPL-2, then legally it should not make a difference.
Of course your project depends on the other. And you probably tested it with a specific version. If you provide a link, then it may fail if the user gets the wrong version.
For that reason Lazarus itself for example includes copies of some 3rd party packages, such as VTV and PascalScript. Also in case of Lazarus they are needed to build, and we need to ship all that is needed to rebuild.
A copy also means you can add your own fixes, if the origin does not add them as fast as you like.
If in your case the dependency is less strict, e.g. something that is run as external tool (like including a git executable), and users don't often need the source to build, then a link may be a good idea.
Or if it is optional, but then again, if the version matters...
Of course if you include it as submodule (and you could do that with a clone, i.e. copy, too) then the submodule will point to the correct version.
Making a clone first means more reliability, if the original is moved. And a clone is easily updated.
A clone also allows you to add your own fixes if needed (like a copy in a folder would).
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As for maintenance. You probably have it with both solutions.
If you ship a link, then you need to update your code, if new versions of the 3rd party project come out.
If you make a copy, you need to look at least for bug fixes and include them.