Should I leave my toxic work environment with no backup in a job market like this?

I'll set the context here.

I was suppose to join a new organisation in the start of the year but it went on a hiring freeze immediately after my notice ended with my then employer.

I ended up accepting the first offer that came my way. It was not of my desired profile but it was better than being jobless.

Now, couple of months into the new job, I realize this is a very toxic place to be. Dormant founders only caring about money, rampant nepotism, no clear path for career growth.

It is becoming difficult to sustain at this place. I've been trying but now I can feel my mental health dwindling because of it. I dread going to office everyday. But again, in this job market, atleast I have a job.

The product role I mentioned is still on pipeline but no one knows when the freeze will end. My hiring manager and HR are pushing for my candidature (according to them) but management isn't allowing them to move ahead with new hires.

Now my question is, should I quit my job and try finding my desire role (which seem like a humongous task) or stay put and wait for a offer to come and then leave my current employer?

I'm torn. I dread going to office everyday. I don't know how much do I have it in me to keep continuing but I'm pushing my limits.

Want some advice from fellow grapeviners here. TIA!