Use a decoder or direct address?
The first question is what is faster. Because this is an LED display, I assume that people will be viewing this, and not computers or cameras. If that is the case, then either alternative can be plenty fast. It only needs to refresh the LEDs 60 times every second for it to appear to human eyes that it is solidly on.  The second question refers to minimum noise. If you mean RF noise, then the slower the circuit and less cycling from high to low voltage, the better, so using A,B,C,D will be best. If by "noise" you mean how the display looks, or that you don't want it to flicker, then just increasing the speed of the circuit can make the display appear to human eyes to have no flicker. Even chaining many panels, the circuit will be able to handle the speed. You'd have to get tens of thousands of RGB LED matrices chained before speed would become an issue.