You know my view. Get out after year 3 with a BSc and get stuck into flying training. Major staff changes afoot here. Losing 3 I know of; I'm being interviewed this week as well makes 4 potentially with another 2 in the wings (no pun).
Without an MEng the CEng is less than straightforward. Requires 'matching sections'. I know of one PhD who was told his MSc didn't count for that and his 3 Year aero PhD didn't count as experience for CEng. If you want. CEng do the MEng