SH are popular on here. They are generally considered to be pretty robust and provide fairly good backup if issues arise.
+ves: It floats, it lights up if dropped in the water (even if switched off). 3yr warranty, reputable brand, USB rechargeable; very waterproof; 5W transmit [although height not power is the limiting factor]
-ves: looks like soft key on/off (so will very slowly discharge in storage); no AA/AAA battery housing option
Cobra don't get as many fans on this forum as the longer established Marine Electronic brands. The general feeling is if there is a fault Cobra are less supportive; many Cobras had issues, particularly relating to build quality and water proofing when they first arrived on the UK market. Here is a review of the set you were considering:
Cobra HH125 | Unbiased marine handheld VHF radio review of the Cobra HH125.
(unfortunately there isn't a direct comparison for the HX300 - but here is the 370, and 290 ones which may give you an idea:
Standard Horizon HX370S, our independent unbiased review.
Standard Horizon HX290 | We review the Standard Horizon HX290 floating handheld marine VHF radio.)
+ve: can take AAA batteries so can carry spares; slightly smaller (only a benefit if you are carrying in on you - in which case see note about waterproofing); rotary on-off switch; 40% less than the SH in price.
-ve: only splashproof not waterproof, only supplied with car charger (as far as I can see), only 3W on max power; only 1 yr warranty;
If those are your only 2 choices then it would be obvious in my mind for use on an open RIB/SIB. If it were going to be left in a dry grab-bag on a yacht as a backup it may be less clear cut.