We study the holographic dual to $c$-extremization for 2d $(0,2)$ superconformal field theories (SCFTs) that have an AdS$_3$ dual realized in Type IIB with varying axio-dilaton, i.e. F-theory. M/F-duality implies that such AdS$_3$ solutions can be mapped to AdS$_2$ solutions in M-theory, which are holographically dual to superconformal quantum mechanics (SCQM), obtained by dimensional reduction of the 2d SCFTs. We analyze the corresponding map between holographic $c$-extremization in F-theory and $mathcal{I}$-extremization in M-theory, where in general the latter receives corrections relative to the F-theory result.