The terms of offers like this are usually sweeter than an exit package. And with there being an involuntary exit waiting in the wings for some folks, it becomes a gamble to remain.
A couple things to note. First, there's probably a bit of wiggle room in the offer. Not a lot, but a little. But while you could lawyer up with a layoff package, you can't with a voluntary one. But if you asked them to sweeten it 5% you may find a yes.
Second, a voluntary exit is easier to finesse in your history.
I took a voluntary exit back in 2019, after almost 20 years. Just under half a million. Haven't regretted it for an instant. Folks who stayed got packages at 70% the rate when the axe fell.
If that sounds like a lot, it's because the calculation was based on total compensation including estimated bonuses and such. If it sounds like too little I don't know what to tell you. I'm happy.