I know PTSs from MPEG-2. Now, what are CTSs?
In contrast to MPEG-2, MPEG-4 inserts a step between decoding and presentation of audio-visual information, which is called composition. Therefore the point in time when some ‘composition unit’ of audio-visual information is available in its decoded representation is called its ‘composition time’ rather than ‘presentation time’. Therefore the associated time stamps are called ‘composition time stamps’ rather than ‘presentation time stamps’ in MPEG-4.