The creasing is almost definitely coming from the dryness, not the concealer itself. Your under-eye skin is super thin and doesn't have many oil glands, so when it's parched it's gonna settle into every line you have. Even the best concealer can't stick to flaky, dehydrated skin - it'll just break apart as the day goes on. Before you even think about switching formulas, you need to address the moisture issue first.
Start with a good hydrating eye cream - apply it generously and let it sink in for like a minute or two before you do anything else. Then use a hydrating primer specifically for the eye area (or honestly, just a lightweight moisturizer works too). The key is giving that skin a plump, smooth base. Once you've got that locked in, use less concealer than you think you need. A lot of people pile it on thinking more product = better coverage, but with a hydrated base you actually need way less. Tap it in gently with your finger instead of rubbing, and set it super lightly with powder if you need to.
Also consider switching to a more hydrating concealer formula - like a liquid or stick formula that's more moisturizing than the matte ones. Honestly though, I'd bet once you get your hydration situation sorted, even the MAC concealer you already own will work fine. The formula matters less when your skin isn't working against you.