Each material ages differently, damages differently, wears differently.
Bone is much more likely to chip or crack, wood will dent.
Both can and will shrink causing the fit to change between the scales and the tang for instance. Both bone and wood will shrink early on if fitted when green. Wood can continue to shrink later on if not cared for. Sunlight and arid climates will write its tracks in wood sooner than bone in general.
Each can last well over 100 years. How long were you planning on living and using the knife?
There is no right or wrong answer, at least for bone and wood. Now if you asked about synthetics... It boils down to personal taste and opinion.
For me some knives look great with a bone handle. I have a little RR Barlow knife with bone scales that looks far better than if it was wood. I also have knives I wouldn't dream of having in bone. Wood or stag or I don't get the knife. Most of my hunting knives come to mind. Stag is certainly less likely to slip when covered in game goo during gutting and skinning.
I tend to prefer wood handles, particularly when they have interesting grains or figuring. A burl handle is a nature's art thing of beauty. I have a knife being made now that will have a desert ironwood handle. It should be gorgeous. Both bone and wood can take dyes that will live'n them up and enhance the esthetics. Each can have its slipperiness tamed with texturing by jigging or carving.
Generally, if it is a gorgeous knife it is not likely to get much use from me unless it was inexpensive to begin with. My EDC knives are generally sporting G10, Micarta or other synthetic handles. The prettier ones get put into my pocket only on special occasions. Some wood or bone handled knives I own get use because I am cultivating that used look to them. Lots of examples in the traditional's forum that have gotten better with age and the "character building" the knife has gone through over the years. A knife with a story written into by use and abuse can take on a beauty all its own, regardless of what the handle was made out of.
Of course your mileage may differ.