The second photo is a little small to make out how the sporran is suspended from the hangers but the height on the second photo better than the first.

My preference is to wear the sporran as high as possible without it rubbing against the buckle. This is the most comfortable to me. The sporran isn't bouncing on your thighs as you walk.

You can always remove a few links from the sporran suspenders if needed, just to pose another option.