If 44B catches a tech after QI B it will launch fairly far forward, making your most reliable combos 66B+K, 33ABK (meterless, comparable damage, 33ABK is slightly less consistent but far more meter gain) and 66A+B → FC 8B and its extensions.
44B can be used after 6BBB if the opponent doesn't know how to deal with 6BBB (and many people don't).
44B's most useful property is its tech crouch. In non-jailing strings that have multiple highs or against stances that usually lead to high attacks (such as Nightmare's NSS stance) it can be used as a powerful interrupt. I need to test the exact frames on the TC though, as it seems like a fairly short window and I'm not sure on the startup.
Here are some situations where you should be + enough to avoid being hit out of it:
After 2A/FC A/66K/22_88K: will frame trap all i20 or slower moves (such as Patroklos or Ω's 66Bs, or Natsu's A+B). Clashes with i19. Loses to i18 or faster mids/lows (standard BB/2A, and more dangerously 3Bs). I generally prefer a throw/mid mixup with 66A+G/B+G and 66B/3BB.
Algol generally doesn't have the + frames to land a move like 44B so your best bets for landing it are off guard burst, post-GI, or during an opponent's high attack. For the last option it helps to step a lot to train your opponent into using stepkills during the earlier rounds by stepping a lot. Most characters lack strong mid stepkill options, so once you have them trained to throw out high attacks, hit 'em with the 44B and watch their jaw drop when 90% of their health bar melts away in one combo.