In my recent return to the site, I have found that it seems more owners are valuing a strong defensive but weak hitting SS over offensive production. Are there statistics showing the value of giving a strong defensive SS a 5 year expensive contract that only hits .200 and strikes out a ton?

As someone who uses that type of player, my take is that you can always find or draft a replacement. I’ve not had a GG SS get to the point where I’d give him a big LT contract. If I did, he’d have to bring something else to the table, like excellent base running, power, or OBP.
And I’ve never shaved a few points off defense so I could have a great hitting but shaky SS. I just move that player to 2B or 3B, where they’re above average.

Exactly ^^ Defense-only is dime a dozen, the guys with great defense with some form of plus offense is what earns the money