The thermo-optic phase shifter (TOPS) using metal heaters is widely used in various integrated photonics devices for its advantages of simple fabrication, low loss, and low cost. While folded waveguides are commonly employed to enhance the performance of these phase shifters, a comprehensive understanding of how varying the number of folds and the dimensions of heaters impact the device's performance is still lacking. In this paper, we conducted a comprehensive comparison and optimization into the impact of the number of folded waveguides and the width of heater on the performance of folded waveguide thermo-optic phase shifter (FW-TOPS) on silicon nitride (SiN) and silicon-on-insulator (SOI) platforms using the finite element method (FEM). The research has revealed that both the number of waveguides and the width of the heater exert a substantial influence on the performance of FW-TOPS, particularly on platforms with low refractive index contrast. In cases where the number of waveguides is the same, and the width of the heater electrode is identical, the comparison indicates that on the SiN platform, the FW-TOPS in waveguide Combination 2 (waveguide 1 is a single-mode waveguide, while waveguide 2 is a multi-mode waveguide) exhibits superior overall performance, compared to waveguide Combination 1 (both waveguide 1 and waveguide 2 are single-mode waveguides). However, on the SOI platform, FW-TOPS with waveguide Combination 1 demonstrates better overall performance compared to waveguide Combination 2. Furthermore, the simulation results indicate that although air trenches can significantly reduce the power consumption of the FW-TOPS, they also lead to a substantial decrease in the response speed. Therefore, on the 300 nm-thick SiN and 220 nm-thick SOI platforms, air trenches do not effectively enhance the overall performance of the FW-TOPS.