It's not like, say, the Hornet Quest, where there's a clear path that gives more content. Both paths are getting support going forward, so it's really up to your roleplay. Jael'yn is attracted to the champion and you are her master either way, although she also mentions getting it on with other people in both paths due to the aforementioned turbohorny. Just pick which path sounds more fun to you.
Frost Hound: Jael'yn in a maid outfit, teased and cooped up all day, serving people drinks while struggling to contain the turbohorny. Has sweet threesomes with +25 libido Etheryn and a potential redemption arc.
Wayfort: Jael'yn as a demon, running her own tavern/fuck den, bereft of a soul and any sense of inhibition or self. Has a sleep with and will be included in the upcoming Wayfort content, but will never get a redemption arc because her soul was ripped away from her by the Alraune or Farrah.