ADVICE NEEDED: Should I JJS (just jump ship)?

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I’m an eit making around $75k to 80k (with overtime) CAD in a HCOL area on the west coast of Canada. I’ve got around 4 years of post-grad experience, about 6 total including co-op, and I’ve already submitted my P.Eng application, so hopefully that comes through soon. The company was honestly great a couple years ago, but over time it’s turned into a nonstop sweatshop of billability, chargeability, timesheets and rushing everything out the door. The quality expectations keep going up while the time to actually do the work keeps going down. Work just piles up, there’s always another deadline, and I’m even using AI to basically double the speed I work at and I still can’t keep up.

The work itself is interesting and my boss isn’t a bad dude, but I don’t feel appreciated at all anymore. Stuff gets overlooked, mistakes happen, and the solution always seems to be pushing harder instead of fixing the workload or staffing. I haven’t had a raise in around a year and a half either, even though expectations have gone way up. At this point I’m thinking there’s no point fighting the system and I should just move on to something new. Should I start applying before the P.Eng comes in and put “P.Eng application submitted / under review” on my resume, or wait until it’s official? Am I overreacting, should I try negotiating first, or should I JJS?

All signs pointing to gtfo but I want a second opinion. Thanks.