If you're HODL for 5-10 years, I would definitely do paper.
Electronics have a lifespan, and you don't want to find out when your hardware wallet is about to die. I would only use a hardware wallet if I needed to get access easily on the road, not for 5-10 year holds.
In case of hardware device failure (or loss) you can recover your wallet using the seed (that you have on paper). You don't need a new hardware wallet to do this.