AC vs HP

Which is more impactful in terms of survivability? I’m debating between rings that give me 2 AC or rings that give me 20 HP. I can do one of each or go all in on one type of ring but I’m not sure which to go for. A part of me feels like armor can easily be increased (to a certain extent) just by wearing better armor (I’m only level 8 on this current character so my armor is still store bought and not the really strong AC I know I can get in the future from boss drops) but not being hit in the first place is a great way to survive as well. What are your thoughts?