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Technically, the answers to those two questions also answer a third:

Should I leave?

... when that question of should I leave becomes repetitive enough then the answer is usually then yes but not yet. The not yet part is really the warning that you need to prepare to leave or prepare to change.

If you have doubts about staying then you also have no doubt that something is wrong.

Yeah, I've been at companies that did pretty well on continuous 1:1s and feedback, but off-cycle raises and promotions were still very rare because it simplifies a lot for the business to synchronize when budgeting and headcount-planning, etc, happens.

Off-cycle promotions can be fairly easy, but not in-place. With the constant churn in our line of work, an existing project may have a vacancy that's already budgeted for the higher level that left. Ar my company, in-place promotions are almost non-existent beyond entry to mid level.

Equity compensation has built in pay cuts. So they also ask if the company should maintain your total compensation or allow it to fall, in essence quietly and passively showing you the door.