Take two parallel lines (one is the scope axis - the other is the barrel axis), separate them 2" to 2.5" and then find the angle of adjustment necessarry to have those axis cross at an impact point 100yards away. Now move the axis of the scope 4mm higher (less than 3/16"). Now recalculate that angle of adjustment. ...not much change - is it? (~ .150 MOA or 1/2 of one click on a typical 1/4 MOA adjustment)
So does that mean that there is little or no diference. No. But it does beg the question, "What is the big deal? How does this affect my setup and how I shoot?" That depends on how "far" you shoot (the range) and how much adjustment your scope has. Lower is better, but I don't think you're buying much with a 4mm reduction in height (1/2 the distance of the two objectives: 50mm - 42mm = 8mm / 2 = 4mm).
Myself - I would take the best/brightest of the 2 scopes (all else being equal other than the argument for/against the 4mm difference in height).
This would make the assumption that you do not need to change scope ring height significantly (more than 5mm). My guess would be that the scope bore axis will not change significantly and may not be even 4mm diff. in height (depending on how far off the barrel the 42mm would end up).
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