What are Admissions Committees /really/ looking for in an essay?

Uh, both could be good. It depends what you want to convey; the second topic would be focused on your career goals, while the first would be saying something about your character. It also depends on how you write them. There really is no formula for writing a standout essay other than being authentic, “showing” instead of just telling, and going beyond the cliches, many of which only look at the surface-level impact of an event. I’d be happy to read any drafts that you have.