By the numbers, assuming MR doesn't help you out...

You indicate your company gets a good rate at a CY. Let's assume it's $100/night. As a PM, you will get 50% bonus points as opposed to 25%, which means an extra 250 points/night. In addition, you get the welcome gift of 250 points/stay.

Assuming three night stays, you would get an additional 1000 points every three nights by being PM instead of GM. At that pace, it would take 120 nights to recoup the 40k points to go from GM to PM. In this case, since you really don't get much at CY by being PM, I would not pay the points.

If you were staying at FS hotels at $200/night with an average three night stay, you would be realizing 2000 extra points per three nights and would recoup your investment at 60 nights. In this case, given the extra perks being PM at a FS, I'd probably do it.

If your stays are, on average, one night in FS hotels at an average $200/night, you recoup your investment at 40 nights. In this scenario, you'll likely be flush by May, so it makes sense.

Hope this helps you evaluate your options.