Conclusion: Both conditions are true.
Discussion: 2 Corinthians 5:1-8 (NKJV), 1 “For we know that if our earthly house, this tent, is destroyed, we have a building from God, a house not made with hands, eternal in the heavens. 2 For in this we groan, earnestly desiring to be clothed with our habitation which is from heaven, 3 if indeed, having been clothed, we shall not be found naked (without Christ’s robe of righteousness). 4 For we who are in this tent groan, being burdened, not because we want to be unclothed, but further clothed, that mortality may be swallowed up by life. …6 So we are always confident, knowing that while we are at home (being comfortable in our sinful flesh) in the body we are absent from the Lord (because we are not striving against the sin within). 7 For we walk by faith, not by sight. 8 We are confident, yes, well pleased rather to be absent (having then died) from the (human) body and to be present (resurrected) with the Lord.”
It is important to harmonize all the scriptures on any biblical topic. With respect to your question, the Apostle Paul wrote that some saints sleep in death before they are resurrected while other saints are immediately resurrected at death.
In 2 Timothy 4:8, Paul wrote, “Henceforth there is laid up for me a crown of righteousness, which the Lord, the righteous judge, shall give me at that day (the Day of Judgment at Jesus’s second advent): and not to me only, but unto all them also that love his appearing.” That crown of righteousness, also described as the crown of life in Revelation 2:10, is rewarded at Jesus’s return. Paul was not expecting to be changed immediately at his death.
Paul further explains,“Behold, I shew you a mystery; We (faithful Christians) shall not all sleep, but we shall all be changed, In a moment, in the twinkling of an eye, at the last trump: for the trumpet shall sound, and the dead shall be raised incorruptible (immortal with the divine nature), and we shall be changed.” 1 Corinthians 15:51-52 (KJV).
The saints who die before Jesus’s return will sleep in death until our Lord’s return. Anyone who falls asleep is not conscious during sleep. The next moment of consciousness is when he awakens. Thus, the sleeping saints’ next consciousness moments will be as resurrected divine beings (2 Peter 1:4).
However, those Christians who are still alive and learning obedience, developing into Christlikeness, will not sleep when they have proved faithful. They will be changed in the moment of death and be with Jesus.