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I roll with Sony and don't bother with other platforms, but I expect the new Zelda to be a bigger seller of the two, at least for the first couple of months.
1) Horizon is a new IP that has yet to prove itself, this always creates uncertainty and people will wait for first impressions, reviews and what their friends have to say about the game first. Zelda is a huge and long standing franchise and people know what they're in for and what to expect. To Nintendo fans, it's something of a holy grail.
2) Nintendo machines don't really have anything else of note to offer at that time, especially the Switch being a new machine, so all Switch buyers will go for Zelda right out of the gate. PS4 has so much stuff going on all the time and people probably have backlogs to go through as well. They have a wider choice of games on offer, both 1st and 3rd party, and Horizon is just one of many attractive options to get into.
I believe both games will be successes and sell plenty, although Horizon will be more uncertain. It's always a massive task for a new IP to establish itself.