It looks like you're an American expat studying in Germany.
A lot of PhD's there go directly into industry, so much so that's from my observation it's the norm instead of the outlier.
You would likely only surrender the chance for a PhD at your institution - and even then, only with your Chair. Funded PhDs are treated like a job and you more or less apply for them just like any other job opening. If you don't like what you are researching, but you are interested in holding employment that involves research, I would recommend looking for a funded PhD at another institution. Applicants with a technical background are at a premium in other fields, so you wouldn't even necessarily have to worry about sticking with CS.
So, here's my recommendation:
1.) Stick with your current research for the rest of the academic year. It gives you something to do while you're looking for employment.
2.) Start browsing one of the many job boards for EU academic positions. Find something you like.
3.) Start browsing any of the job boards for private employment - EU, US, or otherwise.
4.) Do a couple of interviews. If you find something you like, whether in academia or the private sector, go with it.
5.) If you don't find anything, and if you're offered the PhD position at your university, think hard about whether or not you want to take it. Research as a PhD is different (you're treated more like an employee).
Also think about what you don't like about your current research and where you live. Are you dissatisfied because of cultural reasons - which is definitely an issue in the expat community - or are you dissatisfied because of your line or research or your academic environment?
1. There is no time limit when doing a PhD. I know several colleagues who did a PhD in Germany who took more than 10 years. Those were not pathological cases.
2. It's definitely useful to have the title when getting a job and it helps to get some specific positions. And it opens the doors for interviews in this country. Though, even in Germany: Compared to just starting to work and getting experience that way you are likely to lose money, even in the long run.
Doing a PhD is a job, one that is not very well paid. It can be pretty great if you are okay with the money you earn and if you can enjoy the time. A good PhD program: Not too much work (I recently passed by the university at 14:30 on a Friday, there was one single soul), interesting work, something specific you get in the end. But for that to work positively it has to be something you enjoy doing. If you'd see it as lost time, it will be lost time. It has to be in a city and a country you like where you can be with people you like and work on stuff you enjoy. OP, it sounds as nothing of that would be true for you - and if not, a PhD is the best way to reach a burnout or a clinical depression. Don't do it.
A lot of PhD's there go directly into industry, so much so that's from my observation it's the norm instead of the outlier.
You would likely only surrender the chance for a PhD at your institution - and even then, only with your Chair. Funded PhDs are treated like a job and you more or less apply for them just like any other job opening. If you don't like what you are researching, but you are interested in holding employment that involves research, I would recommend looking for a funded PhD at another institution. Applicants with a technical background are at a premium in other fields, so you wouldn't even necessarily have to worry about sticking with CS.
So, here's my recommendation:
1.) Stick with your current research for the rest of the academic year. It gives you something to do while you're looking for employment.
2.) Start browsing one of the many job boards for EU academic positions. Find something you like.
3.) Start browsing any of the job boards for private employment - EU, US, or otherwise.
4.) Do a couple of interviews. If you find something you like, whether in academia or the private sector, go with it.
5.) If you don't find anything, and if you're offered the PhD position at your university, think hard about whether or not you want to take it. Research as a PhD is different (you're treated more like an employee).
Also think about what you don't like about your current research and where you live. Are you dissatisfied because of cultural reasons - which is definitely an issue in the expat community - or are you dissatisfied because of your line or research or your academic environment?