For the output end of the coupler, there are multiple sizes and styles. For sizes, this is called the "basic flow size". 1/4, 3/8, 1/2 are common with 1/4 basic flow size by far the most popular, 3/8 or 1/2 if you need more flow (think larger the size number, bigger the orifice of the coupler = more flow). For styles of couplers, industrial and automotive are the most common but there are other less widely used varieties (such as Lincoln or ARO). Further confusing this basic size and style nomenclature is what are known as "hi-flow" couplers. These are typically 1/4" size basic flow couplers (outer overall size of coupler is the same as 1/4) but with a bigger internal orifice diameter for more air flow. A Milton "V" coupler is a 1/4 basic flow size coupler in an "Industrial" profile with an orifice that is larger than the standard 1/4 but slightly smaller than the standard 3/8 allowing for more flow than a normal 1/4 basic size (and very similar if not more than 3/8 basic flow size). A standard 1/4 size in an industrial profile would be an Milton "M" coupler. Milton has other letters designating other various sizes and profiles. They are just one manufacturer - other companies have other ways to note the basic flow size and profile.
For the input end of the coupler, there are also various sizes based on National Pipe Thread (NPT). The sizes seemingly have no correspondence to the inside diameter of the hose which is why you will see 3/8 NPT coupler on a 1/2" inside diameter hose and the 3/8 NPT end is essentially the same size as the 1/2" inside diameter hose (same thing with 1/4 NPT and 3/8 hose).
Only reason I know all this is because I was incredibly confused by it all and made a research project out of it so I wouldn't buy something I ended up regretting. Long story short, it would not be uncommon to find a 1/4 coupler (basic flow) with a 1/4 NPT fitting connected to a 3/8" diameter air hose. A Milton "V" makes this arrangement better because the output orifice of the coupler is larger (while keeping the body of a 1/4 coupler) essentially making it the same diameter of the NPT fitting and inside diameter of the hose reducing bottlenecks and increasing air flow rate. The Milton "P" noted prior would be the automotive style on a 3/8 basic flow size.