Know I'm underprforming in my job, and am over my head - am I better off trying to find a new job, or waiting for the company to take action (and either fire or re-assign me)?

I started at a new company as a project manager earlier this year. Things were going pretty great, so they bumped me up in title and into a new role in a different department. I'm working with some of the same people - but I know I'm not performing very well. My manager has been treating me with a bit of disdain, and I've had quite a few screw-ups and relationships start to sour. Overall, the role has put a lot of stress on me with little upside for me since I started it ~4 months ago. It's possible they would actually fire me, but considering I got a promotion it seems more likely they would just re-assign me. I can't go back to my old role because it's been filled.

I've learned - next time I'm asked about taking a new position, I need to ask myself if I really want it and if I'm a good fit.

Am I better off talking to my manager about it and see if I can get re-assigned and potentially risk getting fired? Or should I start looking elsewhere? I haven't been in a situation where my performance isn't meeting expectations yet, but I don't want to wait until that happens. It's possible I could see if I get a job offer or two so I have a "bird in hand" before I have the conversation with my manager as well, just to be safe.

I'm also not at all used to be an underperformer at work. I have a real temptation to "just quit" and get out because it feels extremely embarrassing to being a known underperformer at work. I feel like it's really odd to just keep going and try my best because it's unlikely to be up to my manager's lofty expectations. I feel like it's been a slog just going through the motions at work knowing that I'm not doing great. It's a weird feeling that combines embarrassment, discomfort, and anxiousness.

What would you say a best next step would be? Has anyone dealt with these feelings of inadequacy?

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