The both movies are good, but I simply find "Painted skin 2" as more interesting and well developed. Currently the storyline remains but it's described and showed off in other ways making it hard to regret watching it.
Part two of Puppet prince is very similar to painted skin where they both have a second female lead who are both demons of sorts who gets in the favor of the male lead for ulterior motives and makes the male lead prefer her over the female lead/actual wife of the male lead. But when the male lead discovers the truth he goes back to his wife/ female lead.