It's crazy how well PS2 games can hold up today when cleaned up using some texture filters. I played through Silent Hill 2 recently in anticipation of the remake, and it looked surprisingly good still.
Call me crazy but I think the top one looks better. The art style loses something in the bottom. The character and the background blend into each other two much, there's line work outlining the character model that gets lost.
Good thing you can choose not to increase the resolution. I am a sucker for older games running on modern resolutions. Hell even those 3D Pokémon games from the 3ds look great in 4k.