The posts decide the lifespan. Concrete posts outlast timber ones by decades and are worth the extra where the look allows. Where timber posts are used, they need to be properly treated and properly set concreted in with the base kept out of standing water, not simply rammed into a hole.
Not every boundary problem is solved with a taller fence. Often the better answer is a screen positioned where you actually sit, blocking a specific sightline, rather than raising the whole perimeter and making the garden feel like a yard.
Slatted screens, trellis with climbing plants, planted hedging and freestanding panels all do this, and they look far better than two metres of unbroken fence on every side.
Composite. Does not rot, does not splinter, does not need annual treatment, and holds its colour. It costs more up front and it is nearly always the better decision over fifteen years.
Timber. Warmer underfoot and cheaper initially, but it needs cleaning and treating every year or two and it will need replacing well before composite does.
Either way, the frame underneath matters more than the boards on top. It needs adequate joist spacing for the board type, proper ventilation underneath so it can dry out, a fall so water does not stand on it, and posts set into the ground properly. Decking that bounces underfoot is an underbuilt frame, and no amount of good boards will fix it.
Raised decking above 300mm can require planning permission, and it can also raise privacy questions with neighbours. Worth thinking about at design stage.