Overinflated will wear the center of the tire faster, underinflated will wear the edges faster. But we're talking about psi that is significantly higher/lower than ideal.
In general overinflated is more common and impacts both tire wear and ride quality. Under is ok to a point, it increases traction, but it also decreases mpg. So it will decrease tire life a bit but not enough to be an issue unless it's severely low.