Should I apply for H4 extension and H4 EAD with H1B extension in premium?

Hi,

Background to the question: My H1B visa is valid until Aug 2021, but since my original passport’s validity is only until December 2020, my employer decided to apply for my H1B extension earlier (in July 2020) so that I do not have to tackle the hassle of travelling outside of US to deal with i-94 extension.
I also just got my I-140 approved and plan to apply for my spouse’s H4 EAD.

My question is :

  1. Should I apply for H1B in premium processing and after it’s approval, apply for spouse’s H4 Ext and H4 EAD? OR
  2. Should I apply for H4 extension and H4 EAD with H1B extension in premium? OR
  3. Should I apply for H1B ext in normal processing and apply for my spouse’s H4 ext and H4 EAD based on the H1B extn receipt?

I will be liable to pay for the premium processing fees. Will the premium processing really expedite the time of the H4 extension and H4 EAD processing, since I have heard that H4 extension application is also taking a long time and it is done only after H1B extension is approved. I want to ensure that I have a valid H1B extension and H4 extension approved before December 2020.

Please let me know.

Best Regards,
Sameer