We obtain all possible parameters of Plotkin-optimal two-Lee weight projective codes over $\mathbb{Z}_4,$ together with their weight distributions. We show the existence of codes with these parameters as well as their weight distributions by constructing an infinite family of two-weight codes. Previously known codes constructed by Shi et al. (\emph{Des Codes Cryptogr.} {\bf 88}(3):1-13, 2020) can be derived as a special case of our results. We also prove that the Gray image of any Plotkin-optimal two-Lee weight projective codes over $\mathbb{Z}_4$ has the same parameters and weight distribution as some two-weight binary projective codes of type SU1 in the sense of Calderbank and Kantor (\emph{Bull. Lond. Math. Soc.} {\bf 18}:97-122, 1986).

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