Personally, strictly from only those two choices, neither.
980ti does not have enough power to run 4k well on its own, 295x is far too dependent on working Crossfire profiles. Same could be said about SLI profiles and 980ti SLI though, but 980ti has better single GPU power and bigger VRAM than 295x.
And no, this statement does not take into DX12 into account, because it's far too big of an unknown at this stage, but if 295x lacks VRAM now, even with VRAM stacking its GPU power won't be enough either.