Do you want it?
Europa league or Conference?

I’d say yes.
Even if its only Conference. Maybe even more Conference.

1) The team have to get used to play twice a week.
2) higher chance of winning it comparing to Europa
3) Champions League qualification next season is *****, so the first team have to concentrate on the Premier League. I dont think Europa League provide that much flexibility. But its tricky one too. Winning Europa gets you CL spot, so if things go south in PL, there is another chance there.
4) collecting points to UEFA club coefficient tally gives bigger share in money distribution (I guess)