There is a trade-off under the eye that nobody states plainly, so here it is. You can cover the shadow, or you can keep the lines from showing, and past a certain amount of product you cannot do both. Every additional layer of coverage is additional material available to sit in a line and make it more visible.
Which means the question is not 'which concealer hides wrinkles' — none do — but which trade-off do you prefer. For most people with a genuinely lined under-eye, a slightly visible shadow with smooth skin reads better than a fully covered shadow with pigment sitting in four lines. That is a judgment about what looks better, and it is worth making deliberately rather than defaulting to maximum coverage.
Three things help on the keep-the-lines-down side of the trade. Hydration, because a well-hydrated line is shallower and the skin either side is plumper. Flexibility, because a formula that moves with the skin does not break along a fold. And restraint with powder, because powder in a line turns a soft crease into a defined pale channel.
One thing does not help, despite being the standard recommendation: a blurring primer under the eye. A film plus a concealer plus powder is three layers on the thinnest, most mobile skin on your face, and that stack creases more than concealer alone. The fine lines primer page says the same thing from the other direction.
And one thing helps more than any product: where the light is coming from. Under-eye lines read hardest under overhead light. If you are judging your own face in a bathroom with a ceiling light, you are seeing the worst version of it, and adjusting your makeup to that version leads to using more product than daylight requires.
