Most light twins wont fly too far following an EFATO.
The good Engine only takes you to the site of the crash.
So.............Any height and extra speed in a typical light twin are good things to have, the more the better.
Generally hold the blue line until you are at a safe ht, maybe 500' or so. This assures that you can at least do a circuit at 500' at a safe speed back around to land.
The worst case is short runway, heavy wt and an obstacle. Certain to end in tears if a donk fails just after liftoff. ( sorry if I spelt out the bleedin obvious )