damned if you do, damned if you don't.
Nearest suitable...I was based at DCA for a long time. (washington national/regan national). You takeoff...blow an engine and if you are getting vectors for return, with a downwind to the west, you are closer to KIAD (dulles airport). so, which is the nearest suitable>?
Almost every briefing was: if we lose one on takeoff, we'll get vectors to dulles. the only time we didn't do that was : if we lose one on takeoff and dulles is below minimums we'll get vectors to Andrews Air Force Base (where air force one lives0>
You have to do what you think is the best course of action at the time. But if you are going somewhere cuz they have better company mx, you might find your ticket gone for awhile.
good luck
and as long as an engine is producing some thrust...keep it running if you can safely do so.