Designing a game loop.

[Mulligan]

I'm developing a simple Win game. Here is my 2 similar implementations of the game loop (in c++):

approach #1:

    while (Msg.message != WM_QUIT) {
    
    		if (PeekMessage(&Msg, NULL, 0, 0, PM_REMOVE) > 0) {
    			TranslateMessage(&Msg);
    			DispatchMessage(&Msg);
    		}
    		else {
                // Do update, rendering and all the real game loop stuff
            }
    }

approach #2:

    while (Msg.message != WM_QUIT) {
    
    		if (PeekMessage(&Msg, NULL, 0, 0, PM_REMOVE) > 0) {
    			TranslateMessage(&Msg);
    			DispatchMessage(&Msg);
    		}
    		
            // Do update, rendering and all the real game loop stuff
            
    }}

My question is which one is better and which one should i choose? Is it better to do the update and rendering stuff in the else closure as in the #1 approach or just in the `while` loop block as in the #2 approach?