Can being a manager hurt my long term career growth?

I’ve was a lead/manager for about 10 years but was still very hand on during that time. I’m now a director who barely does coding and I am getting very rusty and falling behind in tech.

If most orgs are like pyramids then there are way more dev jobs than director jobs. In the event of layoffs wouldn’t it be way harder to find a job as a director than as a senior engineer?