Ask HN: Degree completion or independent learning plus certifications?

Long story short... 20 years at small software company, associates degree in computer science, responsibilities are now more aligned with a CTO type position. Would like to become more knowledgeable about sysadmin, networking and security areas which I'm already working with on a regular basis.

It seems like the options are to just learn all of it independently and get certifications; or go back to school, pay a lot more, and have a degree at the end (edit: leaning towards an IT degree instead of finishing CS). Company will cover some costs each year but degree would largely be out of pocket. I don't want lack of Bachelor's degree to affect me in the future if I want to move on to another company but it is a much bigger commitment. Will it affect me in the future at this point in my career? Do certifications offset anything there? Thoughts or recommendations?