Accepted answer
At 2–8 °C it can show up as either, and which one depends entirely on whether the product still elutes under the main peak. Purity is a ratio of areas, so a degradant only costs purity if the method resolves it. Content is a mass against a standard, so a degradant costs content whenever the parent is consumed — resolved or not. Asn and Gln lose the amide through a succinimide intermediate, so the product is one dalton heavier and usually resolves as a shoulder on the main peak rather than as a peak of its own. That is why the two measurements are not interchangeable and why an unchanged purity figure after an excursion to 2–8 °C is weak evidence: the method may simply be integrating the degradant along with the parent and reporting the sum as one peak.
Worth being precise here: asparagine and glutamine are the deamidation risk, and methionine is the oxidation risk.
Hydrolysis cleaves the backbone, most readily at aspartate-proline and aspartate-glycine sequences, and is acid-catalysed. In a dry solid it barely proceeds at all.
On the detail: freeze-thaw cycling drives aggregation through concentration at the ice interface and pH shifts as buffer components crystallise out at different rates. Each cycle costs something.
Deamidation via the succinimide intermediate is well characterised, with sequence-dependent rates highest for asparagine-glycine motifs.
Sequence determines which pathways apply, so general statements are general.
At dilute concentrations, suspect adsorption before you suspect chemistry.