Either way wont matter, just depends on how much effort your willing to put forth if/when you tape/mud the joints.
My basement only has 8' ceilings so I hung them vertically since I could easily mud the entire length of the seam standing on the ground, plus they weren't really a true 8' due to ceiling tiles in case access was needed in the future for anything.
When we built additions, garages, and such for customers, weather we hung it or my drywall subs hung it, it was always horizontal just because finishing it that way is much easier, on a typical wall height the joint is right at waist level so everything is done on the ground. Pro drywall guys use bazooka's, mud boxes, etc...on poles so they can do all they're taping/mudding on the floor anyhow, but it's unlikely a DIY'er is going to drop $5K on specialized tools just so they don't have to use a ladder LOL.
What's been mentioned above is a good point and varies per person, drywall specialty shops sell 54" x ??' rock, we always speced that when building for a 9' ceiling since it reduced seams on the wall obviously. You could spec out 54" rock and then hang them vertically against the ceiling then **** the next piece under that, and use some sort of trim board along the bottom to finish it, that way you still only have the main seam running at chest height.
FWIW, hanging horizontally allows you to use a drywall lift to lift/support the top row and hold it tight to ceiling, so other than the muscle required to flip the sheet onto the lift, nothing more is required since the lift is doing all the work at lifting/holding in place. I've never seen a hanging crew ever use a lift, but in the DIY world they are a godsent LOL.
FWIW, when it comes to sanding, since DIYer's are notorious for adding 5 gallons of mud and sanding off 4, call your rental center and see if they carry/rent out the Porter Cable drywall sander. It's a light weight orbital sander with a HEPA vac, I contemplated buying one when they first hit the market but didn't, then yrs later rented one when we rocked my 16x20 shed...kick myself in the **** for not buying one yrs ago when I had my business- NO DUST anywhere, and did the ceiling/walls in under an hour at a level 5 finish (smooth- since I didn't want any texture to hold dust)...it made the job easy since it blended out so nice.