The answer to your question is the first. However, I think you were actually asking which one is better.
The answer depends how process heavy the function is that you're calling on every player. From a straight efficiency perspective, the first one takes less time to process (every schedule is checked every tick, 1 schedule can be checked a lot faster than 32) and is therefore more efficient. However, if the time it takes to run this function on every client adds up to more time than is allotted per tick, it'll lag every time the schedule times out. In this scenario, adding schedules to every player that have very slightly different timeout values will cause these calculations to be spread out across multiple ticks and not overload any one tick.
