The two different options each provide their own advantages. Outside of the changes in use to the main area in each option - the layout of the other spaces is well utilized and provides a maximized use of the space. Option two leaves more space to the window side of the couch for flexible space but has the issue with the use of space adjacent to the office as a strange isolated sitting area. Option one has a more interesting layout that would be interesting to try but it would require the bar height table behind the couch to me mobile which will be a challenge to acheive with the same aesthetic benefit as shown in the renderings.
I like the couch / bar stool arrangement. You may think about making the bar top modular.
The design is unique, but keeps the room very flexible and very open, which is important given the location in the basement and the reduced ceiling height.