Using both Google Tag Manager for WooCommerce and Facebook for WooCommerce plugins is good idea to ensure:

The problem is that when Facebook is integrated using both plugins it will cause duplicates in tracking. Facebook/Meta Pixel will be loaded twice and all events will be tracked twice.

1. Ensure Facebook Pixel GTM preset is installed

Follow this dedicated guide to ensure GTM is correctly integrated with your Facebook / Meta Pixel

How to integrate Facebook / Meta Pixel with WooCommerce?

2. Disable Facebook Pixel in Facebook for WooCommerce

In order to resolve the problem use built-in PHP hook of the Facebook for WooCommerce plugin that allows to prevent it from loading Facebook Pixel and only rely on GTM integration.

Facebook for WooCommerce hook documentation

Open functions.php of your WordPress theme and paste this PHP code:

add_filter( 'facebook_for_woocommerce_integration_pixel_enabled', '__return_false' );

Save the file and this will ensure Facebook Pixel is not loaded twice corrupting reporting.