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Sorry for late reply. I suppose you have already received some replies offline... Difference between API Manager and ICS, currently OIC (Oracle Integration Cloud) is listed below.
- API Manager works as a reverse proxy and exposes proxy services, which OSB underneath the API Manager provides, as APIs. This does not have orchestration feature like OIC/ICS.
- API Manager does not provide connectivity gateway for secure connection between Cloud and on-premise.
So, ICS/OIC meets your requirement that you want to integrate OSC - CPQ - on-premise Order Management System.
If you want to expose APIs for on-premise Order Management system, I strongly recommend you should choose API Platform Cloud Service instead of API Manager since API Manager is obsolete and never updated in the future.