First, P vs LT.

People say that all the time. Except those of us who actually use P-metric tires all over the place with rare issues.

Yes, you are more likely to lose a P-metric, but P-metric tires hold their own very well at or near street pressures. You can play with 28-33 psi depending on need, etc, I just normally use 33 on and offroad, but actual airing down should be limited to deep sand and similar.

Using a P-metric tire gives you a better tire literally 99% of the time. Unless you plan on driving difficult obstacles made of sharp granite in AZ or equivalent, there is no point in going LT with a third ply in the sidewall. Just going LTC is not necessarily a guarantee about anything here in AZ.

For most people, getting LT tires on 4Runners is the equivalent of getting a 4Runner to drive a fire road once in a blue moon. Total overkill.

Second, not all P-metric tires give you equal shot at strength. I have not been able to find anything conclusive but here is a list of P-metric tires that make a case for themselves in the strength department:

Goodyear Adventure with Kevlar, for Kevlar in the tread and "durawall" sidewalls.
Falken Wildpeak AT3W for high ply turn-ups simulating 4 ply sidewall and strong shoulder protectors
Nitto Ridge Grappler for strong shoulder protectors
Wrangler Duratrac for strong shoulder protectors
Wrangler Ultraterrain for strong shoulder protectors
General Grabber ATX for strong shoulder protectors

That's about it. All other P-metrics I can think of lack the strong shoulder protectors necessary to keep rocks at bay.

Third, rain and wet.

Look at Discount Tire Direct and search by vehicle and then select tire and then select Treadwell. You will see third party testing for stopping distances in dry and wet.

Best dry and wet braking

outstanding dry and wet braking:
Wrangler Trail Runner
Wrangler Adventure with Kevlar
Falken Wildpeak AT 3W

All three of these stop within feet of each other.

For your needs, I recommend the tire I use, the Wildpeak AT 3W. It is cheap in 265 70 17 yet great on and off road, does great in the rain, I have total confidence in its strength everywhere outside the Sonoran Desert and equivalent, and does well enough even in those harshest environments.

My rear tires are 7/32nds now and had no issues with all the Montana rain we experienced in July. They still perform very well offroad as well.

The tire makes no noise in 265 70 17 (can be noisier in 285) and is very comfortable. Only now, at 7/32, I am starting to feel a slight loss of comfort, which happens to all tires when tread gets shallower.