Best way to update a refurb iPhone to the latest and greatest iOS

Assume you have an older iPhone updated to the latest and greatest iOS version. Now you have a newer model refurb scheduled to arrive. Since it’s a refurb, there’s no way to be sure it will actually arrive with the same recent iOS version. But you want to update it before attempting to migrate.

What’s the best way to do that? I’m aware of
a) Right from the hello screen, attach to Mac over USB and use Finder window to install the most recent iOS version onto the refurb. Once that’s done, from the hello screen start migration.
b) Proceed at the hello screen by skipping all setup steps. Once done, go to Settings, update the phone to the most recent iOS version, and then choose Erase all Content and Settings. Once that’s done, the refurb will then return you to the hello screen and from there start migration.

Any clear advantages/disadvantages doing it one way or the other?