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It honestly is super dependent on the company and hiring manager on whether they want/care about/value certifications - especially in HR. IMO, for costly certs, it's best to try to convince your company to help fund them while you're employed.
Note: I personally think PHR > SHRM currently. But I'm sure not everyone is aligned on that.
I don’t want to discourage you but honestly no certifications make a difference in this job market. I got both the SHRM-CP and the PHR a year apart and it’s barely moved the needle forward in NYC. My employer hasn’t recognized it in my salary. You’re only going to invest time, effort, energy, and money into something that won’t give you any return.