Hi Kiran,
I would advise co-deployment, if you have a landscape with a central ECC system That has a lot of advantages: simple landscape, no customizing sync needed, no replication needed (except MDG-F), etc.
This is also currently advised by SAP. See https://uxexplorer.hana.ondemand.com/rest/mimeRepositories/11123/file/Deployment_Recommendations_MDG80_final.pdf page 21.
Off course there can be good reasons to use hub scenario Like multiple ECC systems which are all local, ECC is not up to date or is not on HANA, you have a industry solution which does not support co-deploy MDG (at least not tested by SAP).
But in first instance I would always go for co-deploy.
I'm curious what are you consecrations to advise hub?
Cheers,
Henk.