Have to give the classic answer - it depends.
Its very situational for me. I will approach things differently if I'm a big, rich club without a lot of immediate needs than I would if I'm a mid table club or lower, especially if my resources are more limited or I have other factors in play (Work Permits or foreign player restrictions).
Potential, purely on its own, is overvalued by a lot of us. I've been guilty of this for a long time. Once you recognize that there are a multitude of factors that will impact player development beyond simply PA, then you realize those other factors have value and must be considered as well. It keeps it from being a simple prioritizing A versus B approach.
CA 50 PA 185 - 19 year old player - low Professionalism and/or Ambition
CA 85 PA 160 - 17 year old player - higher Professionalism and Ambition
I am more likely to target the latter player. A lot of factors to consider - attribute distribution, PPMs, hidden attributes like Injury Proneness, availability of mentors, etc. But leaving all of that aside, being more developed means the latter player is more likely to get match time a higher level. And with having a better personality right from the start, I would expect a more accelerated development and high probability of maxing out their potential than the first player. The first player has more risk attached and has a lower probability of reaching their maximum potential, or even the max potential of the other player.
buddumber makes a great point about how he fits the tactic you are using. I've made this mistake many times and I now proactively try to avoid it. Knowing how I play and how I want to play, I target players who fit that. Even if means retraining in some situations. But I will avoid targeting players who just don't fit. If I want a big physical and well-rounded forward, there isn't much use targeting the short dribbly types unless I am changing things up or am just investing to sell on profit. If I play a technical possession game, I won't target attacking players without good technique and passing. Once you have a better idea of what you value, sorting thru tons of prospects gets much easier.