Tbf thats a close one tbf, from what Ive seen of the 2 online I would go for the Wave. I cant see anything about if it works with Sherpa though and considering Elgato is owned by Corsair and Blue is part of Logitech I doubt it would work with Sherpa.
Thats actually a tough one.
Edit: Elgato does have their own software for the Wave also, it looks like its very in depth and can do alot. So still may be worth consideration.