I always have the 4 tires at the recommended PSI per the truck manufacturer and this also corresponds at the rear wheels to the tire manufacturer's max PSI for maximum load rating.
Dumb to run with a heavy load and under inflated tires. There will be reduced load capacity. There will be more sidewall flexing and this wastes fuel and causes the tires to run hotter. There will be poorer road handling and possibly increased braking distance.
Tire pressures should always be checked "cold" which does not mean when the air temp is cold, but to have the tires sit for 3-4 hours (without direct sun on any of the tires) so the air temp inside the tire equalizes with the air temp outside the tire.