u/Far-Safe-6404

Hi, I am in my second year of PhD in theatre history. I just wanted to know if any one of you have/know anyone who has volunteered (not advised by the supervisor necessarily) to exit fully funded PhD programme with a MPhil instead? Is that possible for UK fully funded PhDs? Is that looked down upon in the CV outside of the UK? Or is it still counted as experience? Is this disrespectful for the supervisors? My PhD topic seems stale and I don't want to stay in academia, pursuing PhD for 2 more years seems like a waste of time at the cost of mental and physical exhaustion. Here for some insights. Thanks.