My transcript has both an unweighted GPA (3.97/4.0) and a weighted GPA (97.65/100). Is it better to report one of these over the other? Or does it not matter since my transcript has both on it?
It does not matter in the sense that the college will look at your transcript anyway. However, the instructions on the Common App say if both are provided, report the weighted one.
https://appsupport.commonapp.org/link/portal/33011/33013/Article/64/Reporting-Class-Rank-and-GPA