There are a lot of industries where if you aren't at work before and after the boss is and aren't there 50+ hours and promptly answering calls and emails all weekends, you will not ever be promoted. A lot of my friends in finance are going through an existential crisis due to the weight that this mandatory brown nosing has on their well being, despite the decent pay. A lot of them feel trapped in their job, that they can't transition to a better industry with a better culture without basically resetting the last five years of their careers with no guarantees of making it back through the rat race, or that it will be culturally any different at all.
You're right that you may not get promoted. If your time is more valuable to you than money, why does it matter?
> hasn’t tried hard enough
Its worth noting that “tried hard” isn’t a good description of the things necessary. You need to creatively manoever into a position to do so and you need to know how to do that.
You can. Anyone that says you can't hasn't tried hard enough.
Ask your boss. Tell them you want a better work-life balance, tell them it's really important to you and that it's something you will prioritize. Work 4 days a week and get 4/5th of the pay. Step down to 3 days a week later.
If your boss won't come at it, find one that will. Your time is so much more important than more money.