I was in the same situation back in 2019. I worked in IT and while my role paid me very well (SA and projects lead), it stultified me. It got to the point where I would turn up for work and feel depressed. Seeing the same faces and doing the same things day after day after day sent me spiralling towards the precipice - I'd just had enough. Don't get me wrong, my job (aerospace sector) sent me all over the globe and those respites from office drudgery were a nice deviation, but even the trips became an unwanted grind. The wife noticed the change in me as my outgoing demeanour changed to browbeaten. We discussed what I wanted to do and she knew I'd always harboured ambitions to develop property at some point. I started as a Civil Engineer and worked in the building industry for several years before I transferred to IT and knew I could do it, and that I'd probably enjoy it a hell of a lot more than IT. The problem was capital.
Back in the noughties, I worked in the Middle East for several years as an IT Manager which allowed me to almost pay off the mortgage. When me the 'then missus' split, however, we had to sell and split the house, so while not quite back to square one, it was a hit financially. 10 years later and married, I was back on track and at the point - above - of being completely fed up at work. Me and the wife had a discussion and she told me to leave. We'd just bought a property to extend and do up to sell, and she earned enough to cover all the bills, so that's what I did. I left work in Dec 2019 and took the plunge. I didn't take a 50% pay cut, I took a 100% pay cut. All my time since has been spent grafting.
Then COVID hit. To be honest, COVID has been a double-edged sword. On the one hand, tradesmen couldn't get materials and were locked down for intermediate portions of last year which meant the renovations and extension got pushed back. On the other, it allowed me the time to crack on with rakes of other work which I couldn't have done had the tradesmen been here. Then, the restrictions were relaxed for tradesmen and everything started moving quickly again. I then bought another house with my sister (extension and refurb again) and have been working on that one as well. Dividing my time between the two hasn't been easy on my own (my sister works) and it's been tiring, but the end result will far outweigh my current moans and should put me in a much, much better position financially for the next one - which is already lined up.
I won't deny it though, at my age it's been tough on my body physically (aches and pains galore) and it has cost a lot more than I first budgeted, but I've also saved a fortune on labour as I can do a lot of the work. It's almost ready for market now and the only downer is I'll probably miss the stamp duty relief, which is a pain, but it is what it is. The next one should be completed around the tail end of August and the next one purchased (after the sale of the mine) to hopefully have it ready to go with plans passed in October.
Do I regret my decision. No. Not in the slightest. I might be knackered and work longer hours than I did when in IT, but I shudder when I think of the time I spent in an office, bored rigid doing something I didn't want to do, too afraid/reluctant to take the chance of going it alone. I wished I'd have done it 10 years ago. The freedom of being beholden to nobody is liberating. There are no clients to shmooze or argue with or tolerate (I'm the client). No chasing money. No pointless meetings every other hour to discuss something equally pointless. No playing the game and affecting a faux interest in my job because 'I love the challenge of my role'. None of that crap.
Even if my profits are minimal (and they shouldn't be), I wouldn't change what I'm doing now. I love it too much. I love being outside and love the freedom. So in answer to your question about leaving for a lower salary; go for it. Do your sums and if you can afford to live on a lower salary while having a comfortable life, do it. My sister earns stupid amounts of money as a contractor but has often said she would happily give the money and stress up for a nice easy life running a little cafe etc. And there is a lot to be said for that.
Mind you, she also does property on the side so she can't quit. Making hay while the sun shines is equally important as an easy life sometimes.
Good luck with whatever you decide anyway