No doubt about it:
Allows you to choose how you are notified when you receive messages.
Notice the repetition of 'notification' /'notified in the first.
The second, with the necessary corrections, Allows you to choose an option as to how you are notified when you receive messages., is a little long and clumsy.
As for the fourth ! "notification option" takes a moment or two to decipher (and pity the non-native speaker!); and then the repetition, with 'notified'