I would say that if you throw mid 90s pitching is the safer option. There are plenty of dominant HS ( and sometimes even college ) hitters who don't hit well in pro ball. You can see things like power, batspeed and mechanics but you never know until a hitter has hit elite pitching.
on the other hand if you can throw 95 with some command and movement you know that it will translate to every level.
on the other hand guys like josh Hamilton or Bryce Harper had big arms and still became dominant MLB hitters so it can be done.
but generally if you have a big fastball you are a pitcher first for most coaches and if you can bat a bat secondary and fielding comes distant third.
I also read that colleges prefer using good hitting pitchers as a dh or 1b on non pitching days to safe the arm and body.