If you look at the circuit schematic diagram of the Rolls PM55 (ref below) you will see that the microphone line connection is a PASSIVE, PASS-THROUGH where the “mic output” connects directly to the “mic input”. That means that the PM55 does not alter the mic signal in any way.
That is the fundamental difference between using a device like the PM55 vs. an ordinary mic preamp, where the mic signal is amplified and can be changed. It also means that the actual mic preamp in the mixer (or recorder or camera) is supplying the phantom power for the microphone, and the PM55 simply does a “passive sample” of the mic signal without altering the audio signal OR whatever phantom power is being used.
Where you mount the box (whichever one you use) depends on many logistical conditions like how your boom pole is wired, whether you are using a hard cable vs. a wireless transmitter, etc. etc. And it also depends on the personal preference/ergonomics of the boom operator, and what kind of cable you have from the operator’s headphones, etc. etc.
The PM55 is designed to not affect the microphone signal at all which is how it is fundamentally different than any mic preamp product.
PM55 Schematic: https://www.rolls.com/pdf/IS2_PM55.pdf