My FI Instructor always recommended to go as low as possible in PFL's but do an extra engine warm in the descent to stop the engine coughing!
The reason being that the last 300ft are of utmost importance and is really the whole point of the exercise - getting into a field safely!
If you bail out at 500 foot or even 2-300ft you have missed the main point.
I once started to bail out at about 300ft and he said to keep it going down. I was sure to make it but a quick gust with flap timing saw me wickedly undershoot in that last 300 ft.....Unbelieveable
Keep it as real and as legal as possible was his advice with very good reason
Craggs