PIP or Resign what to do?

Tomorrow I have a discussion with manager and HR regarding 2 options. Btw, I have NI rating in last cycle due which the discussion is there also I am on bench since 13 months. I had took voluntary release from my earlier project. Now option 1 is to take 5 months of advance pay and resign tomorrow. This will provide me a normal relieving letter mentioning that i already served my notice period and tomorrow is my last working day. Option 2 is to choose for PIP where I have to be at office for 9.5 ours daily, i have achieve specific goals provided by them and then it will be organisation’s decision to continue with me or to terminate. I have started to look for jobs outside but as I am not much prepared, i will need 2-3 months or may be more to get a new job. Idk how much time it will take. I have 2 years and 9 months experience at infosys, I joined as fresher. I am learning Palo alto firewalls and network security is my domain.

Please provide me with your suggestions, thanks.