You can definitely use it on a .308, but you would need to verify the drops on your own depending on the reticle you go with. The .308 model would of course be a bit more convenient because it is already loosely calibrated for the .308 caliber.
The 5.56/5.45/308 reticle will be idea if you’re looking for a lpvo. 556 and 308 are near us identical in drop to about 500, which is really the max range for this scope, you can stretch to 600 but I’ve found that 500 is at least where I can stretch it to. If you’re going out past 600 a scope with more magnification like their 1-8 or you can run a something like 2-12 or 3-18 with a canted red dot. That’s what I did on my 16” ar10. It works great.