First, if you have a device which is under recall, do not use it at all. That’s not just for your safety, it’s for the safety of others around you. Just sayin’… 
Now to your questions. Life 360 is a completely separate presence service from a third-party, it does not change what your phone does at all. It uses a different set of landmarks to calculate where you are. Many people find that it is more accurate than the SmartThings software, and it is an officially supported method. but if your phone isn’t staying connected to WiFi and GPS is not good in your area, life 360 can’t help either.
There’s no question that presence is probably the most frustrating feature for the SmartThings platform. It depends very much on local conditions, so one method will work great for one person, but not at all for another. And the reverse might be true for a different method. This makes even forum conversations frustrating because people may give you advice that works great at their house but won’t work at yours. A lot of it is just trial and error.
I myself had a lot of problems getting presence to work correctly, but I did get there eventually. I have a very specific use case. I use a wheelchair, and it can often take the bus driver several minutes to unload me at the bus stop. So I needed a very small detection zone or my house thought I was home long before I actually got to the door.
I also had a lot of issues with The smartthings brand presence sensor, even though I know it works great for some people.
Anyway, I ended up using a combination of two devices (one of them an I Beacon) and I did solve the problem. I’m not saying that my solution would work for you, however but I do want to encourage you that there is often a solution to be found, although it may take trying several different approaches.
The following thread may help: