"As you wish" is good. The other is not. I'm not sure what you intend it to mean exactly, but there are other expressions that also might work, depending on intent: "If it be your wish" "If it be your will" "If you so desire" "If you want it so" "As be your will" You may also want "this" or "that" instead of "it", depending on context. Note the use of the subjunctive mood "be" instead of "is". That is important. I like very much the noun "will". It is not the same as "wish". "Will" is our inner force that has conviction and decides as well as wants. It is a stronger word than "wish".

'As you wish' -- it expresses a sort of reluctant agreement.

As you wish- I would say it's more normal in todays english grammar. It's a bit of a more mean phrase, i would say. Its like Friend 1 "Oh, let's check out that candy story over there!" Friend 2 "No, i dont want to." Friend 1 "As you wish" In this example friend 1 is a bit more irritated, friend 1 knows that the candy store has friend 2 favorite sorts of candys and would love to go there. But since friend 2 didnt want to go there "as you wish" is more like an "Okay. Fine. You dont want to then i shouldnt even tell you they have all your favs!" I could even expect friend 1 doing a quiet "hmph" sound to sound more annoyed. As your wish- When i hear these words combined i think of a servent being ordered by the king to get them a steak thats cooked for 1 minute less because its too chewy. And the servant simply answers "As your wish, your majesty" and then bowing deeply and walking away with fast steps to explain to the chef what they did wrong as fast as possible so she can get back to the king as soon as possible with his perfect steak. So i think that this one is more formal but also maybe a bit of an old saying. Even tho i have never heard anyone use this phrase before. Hope that helped! If your text/book/assignment doesnt really fit into my explanations you can just explain a bit more and explain something that matches your text/book/assignment! 😀

You seem to have several misconceptions. ‘thou’ is an archaic form of singular ‘you’. ‘Thy’ means ‘your’. Archaic conjugation was also different than modern conjugation. A few of these are known today such as ‘hast’ or ‘dost’ because they appear in literature or the Bible. But even though these archaic forms are not well known, ‘thou wish’ sounds very wrong. If you had to use an archaic form, and you probably don’t, you should say something like ‘As thou wishest’. ‘As you wish’ itself has a somewhat old-fashioned, but not archaic, sound. To my ear, it’s kind of formal and British. It has several different meanings depending on the context. It can convey reluctance, as another respondent noted, but also respect or submission. (It’s your wishes that matter and I’m here to fulfill them)