As if the conversation around standardized testing isn't confusing enough, we can soon add another layer of complication as the Digital PSAT rolls out this fall, followed by the Digital SAT in the spring. Current sophomores will be the first class to take the Digital PSAT and will need to decide if they want to take the paper SAT before it becomes obsolete, take the ACT, or wait until spring for the Digital SAT (a little late to begin testing).
Try to take a diagnostic ACT and SAT this summer to understand which test is more comfortable for you. If you prefer the format and timing of the SAT, you may want to take an official paper-based one in the fall and another one in winter, if you are still trying to improve your score. If you need it a third time, the digital SAT will be ready, and colleges that superscore will allow you to combine your highest scores from the paper SATs with the highest from the digital test (the scoring scale will be the same).
If you are curious about the differences between the current SAT and the ACT, check out this nice resource from Applerouth.
Here is some information about the differences between the paper vs. digital SAT.
While it is true that many colleges remain test-optional, it is also the case that others are reverting back to requiring the SAT or ACT or have not yet confirmed permanent policies. As a result, it is important to plan to take one or both standardized tests, so you are not eliminating any options immediately solely based on the school's testing policy. If you are a student that is just not going to be a successful test-taker, there will be plenty of options for you. FairTest keeps an updated list of the schools that are test-optional and test-free, and over 1,800 colleges/universities are on the test-optional list for Fall 2023.