A middle way would be to not choose between the two, and instead combine them. That is what being a project leader in tech projects is all about: You come with a heavy tech background and thus have the know-how, and now your beard is gray enough to be credible in the role of leader.
My advice would be that. From now on, spend your energy on reading information systems literature, along with business intelligence and similar. Meanwhile, offer to take charge of the tech projects in your organization and delegate most of the actual techie stuff to the people you're now bossing around.
I'd say an experienced tech project leader is more employable than a pure code monkey or a pure bureaucrat.
And if worst comes to worst and your hands start shaking with abstinence from programming, there's nothing stopping you from getting your hands dirty in some programming work inside the projects either.