Should I wait until getting promoted before looking for a new job?

Been working in sales for about a year and half now. I’ve been considering Program Management as my next role since I’ve grown tired of sales and want to be able to better influence process improvement/strategy. Additionally, I recently stopped believing in our product due to lack of change despite a year of our inputs showing the need to better serve customers I came in as an L4 1.5 years ago and am still an L4. I’ve worked my butt off and was the top rep on my team last year. I feel like with a few more months of hard work (I’ve previously had discussions on how to level up with my manager) I could be promoted by mid-summer, but I can’t be sure I won’t burn out by then.. Anyone have experience or knowledge on how commonplace it is to be leveled up with a new role? There are more options for PM for L5, and I don’t want to risk moving to an L4 role (if there are any for PMs) and having to start over/wait even longer to be L5. Interested in global/international expansion, particularly within AWS if that makes a difference. Any tips help, thanks!