It rather depends on what is meant by "efficient". The z/OS Connect EE server would be unaware of the use of CICSPlex SM.
From a high level view, there must be some processor power used in running CICSPlex SM, which would not involved when going direct between z/OS Connect EE and CICS using IPIC, so I would expect the direct route to use less CPU (thought this might well not be significant)
We would not give a recommendation for either route, as it depends on what the customer wants to achieve. It would probably be worth discussing with CICS support what benefits managing the IPIC connections with CICSPlex SM would provide over the direct route.
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