what should i do in this PIP Situation?

I was laid off in January 2025 from microsoft under the performance review where many were impacted. At that time i told i was pregnant so somehow they retained me and did not fire. I worked for 6 months but still got bad review for my work even after working my ass off during pregnancy. In between my then manager was also laid off who posted my review at that time. I got a new manager and went on maternity leave. Fast forwarding to Dec 2025 I came back from maternity leave and asked my current manager about my zero merit during the rewards and i was informed about my PIP process which will happen now. What should i do should i accept the PIP and continue or accept the severance offer if offered. Or should i put resign immediately and start looking for new jobs. I need guidance.