My take on this is in the definition, Cuckold is an old term, that refers to a man who has been cheated on. Cuckolding in recent years has become its own fettish, it involves a man who's wife cheats on him and uses it to humiliate him. The cuckold has no choice and may have given consent to the wife to treat him like this or may not have given consent at all and his wife is in complete control. Sometimes the Cuck no longer gets to have sex with his wife as she prefers others. In my mind it is too mean and cruel.
A Hotwife is different, her husband gives permission for his wife to explore her sexuality and have sex with others, with the intention of giving the husband all the dirty details. As a Hotwife I do not ever degrade my husband I instead celebrate my sexuallity and share it with others and my husband.