We have stayed at both. Cypress harbor is one of our favorites. The rooms are much larger then HL but that includes a large hot tub that no one uses. The resort is beautiful and just the right size with something to do for everyone. They have 3 pools, 1 is a quiet pool.
As for you, I would base your decision on how "kid oriented" a resort that you want. No question about it, Harbor lake is very cool with the water park, pool slide, and zero entry pool. But CH has a great kids area with all kinds of things to do. Our favorite CH activities included my son's favorite which was the RC race cars. You can buy a kit, build the car, add modifications, and race it. He loved this. You can rent all kinds of pedal boats for the small pond, fish, hang out at the beach, hit the sauna, play mini golf for free (better course at HL but they want you to pay for it), rent multi-seat bikes. Many activities but they had those at HL too. Both resorts are great but Cypress Harbor was our favorite.