Yes, #1 is the optimal move in most games. Destroying the sz61 transport is essential for delaying Japan’s take of India. With the sz61 sunk, UK can hold out in India until R6 even with optimized Japan pressure. The carrier and transport can be reliably brought to UK by round 4 to start pressuring Germany.
#2 is very risky. The main problem with #2 is that it uses the entire UK pacific fleet to destroy some of Japan’s naval fleet. Unless the US follows up with a full pacific commitment, japan can use the extra transport and absence of UK naval pressure to aggressively pressure and take India by round 4-5.
A third option to consider is to move the india fleet into the Med if germany failed to deadzone the seazone next to egypt. This allows UK to destroy the med fleet R2 and allows the UK fleet to travel to UK as early as R3. Often, germany will sacrifice air to sink the UK ships in the Med which is also a good outcome for the allies. Overall, this provides the most possible pressure against germany. This is probably the best of the 3 options in my view, but is contingent on a Germany mistake of failing to deadzone sz15.
80+% of my games against good axis players, I do #1.