At room temperature 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. A stereocentre inverts. Identical mass, identical formula; only a chiral method or a peptide map with a chiral digestion sees it at all. That is why the two measurements are not interchangeable and why an unchanged purity figure after an excursion to room temperature is weak evidence: the method may simply be integrating the degradant along with the parent and reporting the sum as one peak.
The relevant point is that a mass shift of plus one dalton is deamidation and plus sixteen is oxidation, so degradation is often visible in a mass spectrum if anyone looks.
Light exposure matters for tryptophan-containing sequences and for anything with a chromophore. Amber vials and a closed box are free mitigations.
To be exact about it, 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.
The caveat is that none of these pathways can be seen by looking at a vial, and a clear solution can be substantially degraded.
Cold, dry, dark, still. Those four words cover most of the mitigation.