Degradation is not one process, and which one dominates depends on the condition you are asking about. In solution at refrigerated temperature the rate-limiting pathway is usually deamidation and hydrolysis; at room temperature aggregation overtakes them; frozen, the damage happens during the transitions rather than during the hold.
The 28-day figure for a reconstituted preserved vial is microbiological, not chemical. Chemically, a well-behaved peptide at 5 mg/mL at 4 °C will typically lose well under a per cent of content per month. The reason to respect the date is bioburden, and bioburden is a function of how many times you have opened it, not of the calendar.
Practical thermal arithmetic for a shipment: a single 250 g phase-change pack in a thin-walled polystyrene box holds sub-ten-degrees for roughly 24 to 48 hours in a 25 °C ambient, and considerably less at 35 °C. Any lane taking eight to fourteen days is therefore not temperature-controlled for most of its duration regardless of what was in the box, which is the argument for shipping the material lyophilised.
Where community-submitted samples with known thermal excursions have been tested at Janoshik or Medutest, the recurring finding is that lyophilised material tolerates warm transit far better than intuition suggests, while reconstituted material shipped warm does not. The asymmetry is consistent enough to plan around.
Store solid, store cold, store dry, and reconstitute what you will use rather than what fits in the vial.