Yes, there is a slight difference between hotcakes and pancakes. While pancakes are generally considered to be sweet breakfast food, hotcakes are a much more general term that can refer to any small griddle-fried cake in its broadest sense.
Generally, pancakes are wide and have a fluffy texture, whereas the term hotcakes usually refer to a thicker, denser cake with a narrower diameter than pancakes, which doesn’t rip as easily when picked up. Although hotcakes are typically sweet, they are hugely versatile and there is a tonne of varieties, including savory, potato, buttery, salty, scone-like types that you wouldn’t necessarily order for breakfast or consider a traditional breakfast food.
It can also depend on the location of where they are being served in America, as it can differ depending on which state you are in. For instance, like people refer to fizzy beverages as different names, including fizzy pop, or soda, the same concept applies to hotcakes and pancakes. Although they are similar, people call them different things depending on where they are from!