Final answer:
John Lennon's "You've Got to Hide Your Love Away" primarily shows the influence of Bob Dylan's folk music style and lyrical approach. While Elvis Presley was an influential figure with a unique style attributed to Memphis, it is Dylan's style that resonates in Lennon's songwriting during that period.
Step-by-step explanation:
The main answer to the question regarding which American songwriter John Lennon's "You've Got to Hide Your Love Away" owes allegiance to is Bob Dylan. This can be understood when considering the musical influences of the era. While Elvis Presley indeed blended various music styles such as gospel, blues, bluegrass, country, western, and R&B to create a unique style that was a hallmark of the Memphis region, John Lennon's song writing in "You've Got to Hide Your Love Away" has been largely influenced by Bob Dylan's folk music style, lyrical complexity, and delivery.Bob Dylan was known for his influential protest songs and his unique approach to songwriting. In fact, Dylan's work from the early 1960s, such as 'The Times They Are a-Changin'', became emblematic of the social change occurring at the time and had a significant impact on other musicians, including The Beatles, specifically John Lennon. Therefore, in context, it is Dylan's influence that is most prominent in Lennon's music at this juncture, representing a shift towards a more introspective and narrative style that contrasted with the prior pop sensibilities of The Beatles.