Linear can easily regulate much lower ripple with how it's typically done. Output is say 18v, but could vary 15-20 with ripple and line changes (or abouts). You just bleed off till you get the 12v you want.
SMPS don't necessarily regulate, but generate. They're supposed to put out a given amount but when sag occurs they may not be robust enough to compensate or the output will shift to high briefly so it'll have to discharge some from reservoir caps to come back down. There's more to it than I can explain, most likely.
The SMPS is much more efficient, however. But Linear supplies sized closer to need will burn off less power. Inefficient 10A or 2A supply, you get the idea.
There are some high end SMPS units. $$$