Well, obviously Deku in two forms - the younger and the older version are the main characters. The younger Deku is the one who is still growing and learning, while the older Deku has more experience.
Another plot might involve the older Deku being from an alternate timeline. He shows the younger Deku different ways he could have developed his skills and relationships, which makes the younger Deku reevaluate his own path as a hero.
As a child, Deku would likely be more naive. He might not fully understand the extent of the challenges that lie ahead in his journey to become a hero. His admiration for heroes would be pure and untainted. Uraraka as a child could be more impulsive. For example, she might use her quirk without thinking about the consequences as much as she would when she's older. She'd also be more likely to show her emotions openly, like her excitement about hero - related things.
The main differences are in their expressions and some minor details of personality. In the manga, Deku might seem a bit more intense, while in the anime, he's sometimes presented a bit softer.
Deku might be completely shocked at first. Since Bakugou has always been so aggressive towards him, he would never expect such a confession. He might just stand there, mouth agape, not knowing what to say.
His friends could come to the rescue. Bakugo, for instance, might use his explosive power to break into Toga's hideout. He's always been competitive with Deku, but he also cares about him deeply.
In 'deku meets future deku fanfiction', perhaps the future Deku warns the present one about upcoming threats. He could tell him about villains he'll face in the future and how to defeat them. This would give the present Deku an edge in his battles and also in his growth as a hero.
As of now, Deku is very much alive in the manga. The plot hasn't reached a point where he meets such a fate. Usually, main characters like Deku have significant story arcs and aren't easily killed off.
One possible plot could be that Villain Deku is on a mission to undermine the hero society and crosses paths with Hero Deku. They engage in a fierce battle where Villain Deku taunts Hero Deku about his ideals. In the end, Hero Deku manages to get through to a small part of Villain Deku's conscience, leaving him with some doubts about his villainous path.