I returned to IC about 3 1/2 years ago when I joined NVIDIA after being a founder, VPE, etc
Would highly recommend doing it. I've hired several now whove gone that path, many of whom now work on NemoClaw.
Getting back to doing what you love, what you got in this business for in the first place, is an amazing privilege. But also, doing so has the benefit of earning back your credibility. It also makes you a better engineer, because now coming back from management you have a strong sense of why business decisions around software get made. As an engineer, this helps you make better tradeoffs - you will *know* why a given solution needs to be built for the long term... or not.
I find this especially relevant now, because as a leader, you probably need to relearn how all this works from first principles anyway, so you might as well do so from the ground up so you get better understanding about how engineering tradeoffs have changed.
Everyone is afraid that AI is going to take their job or at least end their promotion path. I now frequently hear, "should I go back to being an IC?" Leaders never used to ask this, but now it is common.