Option 2 is too close to the 1000’ point and too tight in my opinion; with gear and two/one stages of flap and landing checks still to do.
It is good practice to make one config change at a time and let the aircraft settle after each one. PM will probably be doing radio calls at that point as well, so if you leave it until 5 miles before gear and final flaps, PF might have to speak over PM and ATC to ask for config. It’s not impossible but it could get messy !