Change the list items custom permission. using sharing link or advanced permission settings

In SharePoint online we have 2 approaches to change the items permissions inside custom lists, either by going to the Advance settings, as follow:- 

or click on share:- 

now for the first approach to work, users need to have atleast these 2 permission levels to be able to modify the items/documents permission settings:- 

while for the second approach to work we need to check this Access Requests settings checkbox checked:- 

now i find the first approach work better for our scenarios, as usually we do not want all users to be able to share the list items and documents with other users, we only need to allow certain group of users to do so.. so we can uncheck this checkbox:- 

and grant the users who should be able to share with other users the needed permission level. so is there an approach that is recommended by Microsoft ? or both options are valid to modify the items and document permission settings? Thanks