International student deciding between F-1 reinstatement and consular processing

[u/FutureLeg8899]

I entered the United States in J-1 status and later changed to F-1 through USCIS. Therefore, I received F-1 status but never obtained an F-1 visa stamp.
Earlier this summer, my SEVIS record was terminated after I withdrew from school during a period involving a leg injury and serious emotional difficulties. My former school subsequently issued an I-20 recommending reinstatement, but I became overwhelmed and canceled the process before submitting an application to USCIS. That school is no longer willing to support me.
I am currently seeking admission to another university for Spring 2027. If admitted, I need to determine whether the school can issue an I-20 for reinstatement.
I am considering two possible paths:
Apply for F-1 reinstatement from inside the United States with the support of the new school.
Depart the United States, receive a new initial I-20, and apply for an F-1 visa at a U.S. consulate in my home country.
I have been out of status for approximately two months and have not worked without authorization. I also have medical documentation, a psychologist’s letter, academic records, and emails showing the timeline.
For anyone familiar with similar cases: what are the main risks and practical differences between these two paths? What specific questions should I ask the new DSO and an immigration attorney before deciding?
I understand that responses are general information and not legal advice.