Trending @Cognizant; Promotion or Salary Revision?

I've been in my current role as an Associate for almost three years, consistently receiving strong performance ratings (4). Despite this, I haven't been promoted, and my manager hasn’t provided clear feedback on when it might happen. Given the situation, would it be reasonable to push for a salary revision instead? If so, what’s the best way to approach this conversation, especially if I'm aiming for atleast 15-20% hike?