I've experienced both and still experience both and psychological pain far outweighs the physical for me.
(But in my case, this may also be due to the fact that all of my emotional and mental anguish has absolutely NO breaks and can be sourced from unrelenting and humiliating external, environmental, physical, situational, etc issues. I know exactly where the agony is coming from, I know it's permanent, I know it's progressive and I am excruciatingly aware of the real world consequences outside of my head.)
It's so complex and far reaching and just plain sadistic.
To relate it somewhat figuratively to a physical situation..instead of it being like someone smashing your kneecap with a hammer, it is more akin to someone meticulously and leisurely slipping a jagged sword through every heart of every neuron in your brain, all while laughing maniacally and mockingly atop a hill of rusty weaponry, with no end in sight.
Also for some reason physical discomfort is vastly more unbearable than straight up pain in my experience.
Writhing, twisting, gasping for air…just please bring on pure pain rather than that.
Although it's true that if the physical pain is bad enough, you won't be able to experience many thoughts outside of that, it will reduce your focus to addressing the physical pain and the physical pain alone.
It numbs the mind.
Or in the same sense that psychological pain can bring about physical pain..physical pain can bring about psychological pain, it can also make you go a bit mad.
Oddly enough, during my most severe moments of physical pain, I coped via that strange pause in the psyche.
It was perhaps the most powerful distraction
but unfortunately most of my psychological pain is due to my physical standing and the other things that have happened to it & because of it (some of which are direct causes for the corresponding physical pain) so the distraction quickly morphs into a reminder and then both physical and psychological pain are feeding off one another in an absolute frenzy.
This is probably why I have a much higher tolerance for physical or internal pain that is completely unrelated to my overall situation and reasons for needing to end my suffering.
Otherwise it's all part of the same shit storm.
I am sure others here could probably attest to the fact that both sorts of pain can often end up inseparable from one another.
Both reduce or eliminate necessary functionality.