For me, it's a false comparison to ask: "Should I cheat with a hooker or a sugar baby?"
Hookers are amazing, no doubt. There's a reason it's called the oldest profession. You have taken significant measures to enable you to cheat with hookers and now you are finding you want something else. If you try to slot a SB into the space you use now for hookers, you are not likely to find what you want. SB's are not "younger hotter hookers." Yes, there are hookers on sugar sites, but for the most part, they are looking for something other than a trick, just like you are looking for something other than a pro.
IMO, if you are determined to cheat (no judgement from me, just framing the issue) a much better comparison is that of a sugar baby or a mistress. A mistress could be a woman you meet at the gym or a bar or at some social gathering and you both agree start banging on the side, but no allowance is asked for or offered. She may or may not have ulterior goals like "stealing you" away or adding something to her life she is not getting otherwise (from her BF or Hubs?). But that's part of the deal.
A sugar baby is like a mistress, except:
1. You are offering allowance to sweeten the arrangement, and
2. She has deliberately placed herself into the Sugar Bowl to accomplish one or more goals.
So perhaps the best way to approach your questions is to ask: "What are the risks of finding and maintaining a mistress or sugar baby? Can the extra time commitment and risk be managed?"
Finally, even if you dip a toe into the Sugar Bowl (or mistress life) and fail to find what you want, you still have your chops and OpSec for hookers. Think of this whole process as additive, rather than replacing, and you may find much more personal benefit in the long term.
Life is good
The Cat