I'm a veterinarian. Have not given a vaccine/bacterin of any sort IM to cattle in nearly 40 years... all subcutaneous.
Probably has been 20+ years since I gave any injectible product (antibiotic, dewormer, etc.) IM, except for Estrumate/Lutalyse and cystorelin.
Subcutaneous is the way to go, whenever possible. I suppose... you're worried about a lump/knot on your show animal. But... doggone it, they are ultimately a FOOD animal, and if you create a big abscess or area of fibrosis in a cut of meat... it reflects badly on those of us who are following BQA tenets.