they should both work equally well. I would use a pin connector for the joint in the solid part analysis and restrain to a single point (vertex) at the top. You could also use the end of the "sling" and use the link connectors if that was of interest. 1/4 symmetry would also help in stabilizing the model if that works.
I've done something like this a couple months ago, three separate links attached to a part and held by a sling to a common point. I put a point on the attach point (where we had a swivel lift link) and 3D sketched a line from that point to the common lift point. Then I figured out what force would be resolved into each link and applied that force along the sketched line. Worked like a charm.
Include gravity when figuring out the resolved force and then apply your b/c to the lifted part.