I am enjoying the new orpheks but I cant imagine using just one over a 40 breeder. The fixture is 14 inches long, that means 11 inches on either side to cover a 40 breeder...
So the photon is automatically much better imo for your budget. It is 23.5" long.
in fact you could even get the photon 32 in your budget which is 31.5" long :) and this is the one I would personally choose so you get amazing coverage.
https://aquacave.com/photon-32-v2-pro-led-fixture-reefbreeders.html?setCurrencyId=1&sku=LT-RB104
You could get the new meridian but you would have to go with a shorter one to stay in budget.. I am not sure it would be better to get the newer light with less coverage over a longer photon.
You are used to lights being close to your tank, you def need to think about hanging height and light spill and glare. The shorter the fixture, the higher you may need to hang and more spill front to back you may have and potentially more glare depending where your tank is, how you view it, if you sit near it, etc.
I can't give you the answer here but it is worth some research and thought.