Higher: The car feels better in bumps, and jumps better. It can feel tippy, or even flip over in high-grip conditions.
Lower: The car feels more direct, and it can potentially corner a bit faster. It’s also harder to flip the car over.
Note: Lowering one end of the car, or putting the other end higher up, gives a little more grip at the lowest end, but try to avoid big differences in ride height between the front and the rear.