The choice to sleep or don't sleep drives is often pretty binary - mechanical drives are most likely to encounter an issue on power on, or on spin up, so if you are doing it often it's adding additional "wear" to the drive increasing (by some amount) the likelihood of component failure.
Conversely, while a drive is happier to keep spinning than not (easier to keep moving than to start moving), there is wear on the bearings - so it's not a panacea, either.
You need to take your personal use case into consideration, and add whatever variables to weight the decision on one side or the other (lower power consumption = plus, longer wait times to access files = con).
There really is no Right Way™️