To complement Amith George's helpful answer with more background information:
From what I can tell, $($taskTitle) seems to be equivalent to $taskTitle.
Indeed, in the context of "...", an expandable string (interpolating string):
In short:
$(...) inside "..." is needed for anything other than simple variable references and allows you to embed entire statements inside "..."; as usual, when the string is evaluated, the $(...) part is replaced with the (stringified) output from the embedded statement(s).
If you don't want to think about when $(...) is and isn't needed, you can choose to always use it (e.g., $($taskTitle)), but note that it's cumbersome to type and visually "noisy".
- Caveat: There is an edge case where the behavior of
$($var) is not the same as that of $var / ${var}, namely if $var is a collection (implementing [System.Collections.IEnumerable]) that happens to contain only a single item - see PetSerAl's comments below.
Unless the referenced variable's / embedded statement's value already is a string, it is stringified using the .NET .ToString() method, with the notable twist that types that support culture-sensitive stringification are stringified with the invariant culture, which, loosely speaking, is like US-English format; e.g., "$(1.2)" always yields 1.2, even in cultures where , is the decimal mark; see this answer of mine for more.
Documentation:
The official name for $(...) is the subexpression operator, as (tersely) documented in Get-Help about_Operators, though the explanation there doesn't discuss the operator's specific use in the context of expandable strings.
Conversely, Get-Help about_Quoting_Rules, which discusses string literals including expandable strings, shows examples of $(...) use only in the context of expandable strings.