What is the correct wording of the following sentence?

First one. Location element before time element.

Word order can convey subtle shades of meaning. Consider:

It's probably crowded there all the time. (means "always a crowd there")

It's probably crowded all the time there. (means "there are other places not crowded all the time.")

It's crowded all the time there, probably. (means "I'm guessing")

It's crowded there probably all the time. (means "the crowd now is probably typical")

You can especially have fun with word order by moving the word "only" around. Here's some fun with adding "only" to "I punched Justin Bieber in the nose."

Only I punched Justin Bieber in the nose. (Others were there but only I punched)

I only punched Justin Bieber in the nose. (I could have really beaten on him.) OR: (It was no big deal.)

I punched only Justin Bieber in the nose. (I held back from punching Adele.)

I punched Justin Bieber only in the nose. (I had nothing to do with those other punches he got.)

I punched Justin Bieber in only the nose. (Not such a big deal, it was just his nose.)

I punched Justin Bieber in the nose only. (I have principles against punching him elsewhere.)

Word order can convey all kinds of subtle meanings and can be lots of fun.

It's probably crowded all the time there.

It's probably crowded all the time there.

I would change the "all of the time" to "most of the time," unless the place is open 24 hours a day, 365 days a year.. I would write "It's probably crowded there most of the time."

"It's probably crowded there all the time" is correct, because the adjective is placed next to the noun it's modifying

The second sentence likely seems more correct.

Either

Either is correct.

both are same and correct