hard disk: is it faster to change the size of a Time Machine partition or delete it completely and make a backup again from scratch?

I have a Time Machine ~ 500GB partition that I would like to reduce a bit. My internal source partition is around 400 GB.

Resizing the partition would be extremely slow, since the Disk Utility has to verify all the hard links that Time Machine is using behind the scenes. On the other hand, simply cleaning it and making a backup again from scratch would also be extremely slow.

Is one or the other usually going to be faster? Is there a turning point in the size of the disc in which it is cheaper to change strategy?

(I am using an SSD internally and a rotating hard drive externally, connected via USB 3. Both the source and the destination are encrypted, and I have a second backup disk, so if I clean it and make a copy again security, not be temporarily checked out)