this is difficult to answer without doing some deep dive analytics cause it's a sliding scale, but the simple answer is, height is the stronger factor of the two. Perimeter D carries a lot of weight but it can't rescue a large height/positioning mismatch.
Mike Wang confirms HEIGHT matters more than Perimeter Defense when contesting jumpshots in NBA 2K27.
Perimeter Defense still plays a major role, but it won’t make up for a big height or positioning mismatch.