Kimberly:
Your hunch is correct. With shorter park hours and lighter crowds around the first week of February, the
Park Hopper option is not warranted, in my opinion. For my family, moving from one park to another eats up a good hour and precious touring time. Additionally, if you don't visit Disney often, you can certainly take an entire day to visit all of the attractions in a park
I typically only recommend the Park Hopper ticket during extremely busy times of the year like holidays and Spring Break where you can change your mind and leave a park if you find it too busy for your patience. Usually, hours are also longer during these times to offset your time traveling from one park to the other. Additionally, I recommend adding it if you are at Disney for longer than the usual 4- or 5-night stay, allowing you to go into the parks in the evening and to enjoy the vast array of restaurants in them, especially at
Epcot. For your trip in February, I think you'll be fine with a regular Magic Your Way Ticket.
Wishing y'all a magical vacation!
Whitney