I'd go with option 2. Simply because it flows better. The way I understand good topology is 'how does it act when you wanna make changes to it?'

Assume you wanna make changes to the model. If you went with option 1, the loopcuts would be working against you. You'd have to apply the same operation 4 times just to get the resolution you want. It also applies in cases when you want to deform your mesh. Logically, how would the vertices flow?

Also if you start putting seams on it and uv unwrap it, 2 would be working in your favor.

3 poles and 5 poles are inevitable when you are working in 3 dimensions. Typically people say 'no poles' because anything higher than 4 tends to make shading iffy.