The short answer is you will end up with both eventually, so if you can afford it, buy both straight away!
A 4-jaw will do anything a 3-jaw can do, and more, though there are a whole host of wrinkles for doing some 4-jaw jobs with a three jaw (like putting a spacer on one jaw to machine an off-centre hole, or holding rectangular bar stock for facing with one jaw on one side and two on the other).
The downside is that, despite the protests of those who are good at it (and I'm getting better) it is fiddly to set stock up in one to run concentrically, especially for a beginner.
A long as you realise all round surfaces that must be concentric need to be turned without taking the work from the chuck in between, then a 3-jaw will make your life much easier. The 4-jaw will, no doubt, quickly bubble up your priority list as you find yourself wanting to machine other shapes, and you may well have it for some considerable time before you start to use it for round work.
It's also worth noting that the 4-jaw probably have slightly greater capacity for a given diameter. A 4-jaw can grip better than a 3-jaw, but only if it's been properly adjusted – it's possible to have one jaw loose, allowing work to wiggle out, and you can be tempted to hold things in the most precarious of ways.
Even so, I would say beginner start with a 3-jaw as its easy to use and therefore safer and less frustrating during eth period when you are getting to learn how to use the machine.
Neil