Venting Dryer to Outside Through Foundation Wall OR Vent?

I’m relocating and replacing the ducting to vent my electric dryer that is located in the middle of my home. I’m using 4" galvanized duct, I’ve installed a Dryer Box on the back (2×6) wall of my laundry closet in a downward venting position. The vent pipe goes down through the subfloor from the "Dryer Box" and immediately makes a 90-degree turn (elbow) back towards the dryer running in between and parallel with my floor joists. I’m hanging the pipe using galvanized strapping between the joists close to the subfloor (between the subfloor and rolled fiberglass insulation) with a very slight downward angle (1/4" per 5′). As a straight shot, it is 20′ to the exterior wall from the elbow.

I’ve brought the pipe halfway to the exterior wall in a straight run from the elbow. I’m considering two options from here. I was hoping to get opinions on which one is better.

Things to note; it’s a single-level home with 8" poured concrete foundation walls. It uses 9.5" i-joists which are hung off the foundation wall (no rim joist)

First option: Continue the straight run and vent directly through the exterior foundation wall using a 4" core drill to make an exit hole. This will place the hole about 2-3" from the top of the concrete. I can’t imagine it will affect the structural integrity of the foundation wall but I am concerned about causing future cracking and the potential for blowing out the top (the foundation is 20 years old).

Second option: There is a foundation vent about 40" to the left, two joist bays over from where my pipe is now (which is where the builders had terminated the dryer duct originally using semi-rigid). From the end of my current straight run, I would have to do a 90-degree elbow to the left, drill 4" holes through 2 I-joists and then another 90-degree elbow followed by a straight run, terminating through the foundation vent.

I’ve checked product literature for the i-joists and it says making 4" holes through the middle of them is acceptable. I’m concerned about making a hole in the concrete but having fewer elbows seems better (not to mention going through a foundation vent looks kind of hokey). I’ve considered using a product called the "dryer-ell" (made by the same company the makes the dryer box) that claims to not restrict airflow like a normal elbow, however, it still has 2 extra turns and it seems like it would make for easier cleaning later on, keeping it as a straight run.

Any advice would be appreciated.