Huge asterisk on the fact that I’m based in the US and obviously I can’t speak to local-specifics.
Alot of the value of a piece of paper saying MS or PhD diminishes after that ‘first job’ if you’re going into industry / industrial research. It helps you get in the door by your credentials but after a few years, its far more important what you know and what you can do rather than formal degrees, after the bachelor’s level. Some large companies are going to have artificial restrictions early in your career (“PhD required”), but if you keep publishing and doing good work, almost all of those will bend for you.
The most important thing you can pull out of a degree program is that you learned important skills like developing and critiquing new ideas, reading and implementing research papers, knowing what you don’t know, and learning the baseline toolset at your disposal. If you feel after a MS you do all of that at a proficient level, then I might not recommend continuing - if academia isn’t your aim.
However if you feel that you can sharpen up, there are more classes you would find genuinely valuable, or need more direct instruction time with a professor, continuing would be the best bet, but only if you’re dead serious about being a researcher rather than an engineer. Once you have that PhD, your job opportunities change from there on out and would give you a minimum floor of position someone could offer you. That can either be a huge catapult up the ladder or a never-ending curse if you later find you’re not happy doing/leading research.
For example, I do not have even a MS. In fact, I left my MS about half way through because I was offered a job unexpectedly to do exactly what I was studying to do at my current skill level at the time. I had expected to go down the PhD route myself. What I did is not a direction I was advise anyone to take (life is fully of winding & foggy paths that only in retrospect seem sensible), I think the MS is a necessary degree if you hadn’t done research prior or have a strong academically-focused support system to help you get there on-the-fly.
This is just a single data point, I obviously don’t know anything about you or your situation but this was my thought process as I was grappling with the same problem about 6 years ago and I think I’m in a good place .
Just remember you might not get everything right out of the gate, but alot is possible if you’re willing to put in the time, make smart choices, and advocate for what you want.