Cloudformation supports more AWS features than terraform.
Recently, I decided to use Terrform over CloudFormation specifically because you can't create an EKS cluster (with nodes) in a single stack.
The rule of thumb that you should generally stick to CloudFormation if you are full bore invested into AWS has some truth.
My issues with CloudFormation are lack of control over rollbacks, missing features for existing and mature services like the above, and forcing me to use custom resources to do anything that vaguely resembles coding that Terraform does just fine like IP address math functions.