Harmonic rhythm doesn’t dictate meter. We don’t say a song is in 8/4 just because the chords are held for 8 beats instead of 4. Meter is mostly about accents.
Technically every song in 4/4 that has equal accents on 1 and 3 (e.g. a kick drum on 1 and 3) could also be transcribed in 2/4. That being said I think it’s really difficult to make the argument that a pop song was actually written in 2/4.
In this particular instance I would definitely go with 4/4 and the occasional measure of 2/4, which isn’t actually that uncommon in pop music. In my opinion simple pop music like this should always be transcribed in 4/4, unless it’s in 6/8.