It depends on the dose.

I think I have more of an acute issue with anxiety, at the moment mostly driven by financial insecurity combined with unexpected medical expenses. Like what I really need right now is a few thousand dollars in travel expenses and for this precertification to go through, but failing that I just need to make it from one day to the next.

Alcohol has maybe given me a hangover once. I also don't typically have more than two drinks in a day, and if I am having a bad enough day to want to use alcohol then that's going to be closer to 2pm than bedtime. Cannabis use is pretty continual these days, being locally legal, but I don't find it very effective for anxiety. But actually one of the main things I'm using for mood regulation these days is programming. It's hard to think about code simultaneously with anything else, and learning coding was among other things a process of learning emotional regulation with regards to coding, because it's not like the computer cares if you find a bug challenging.

Weed will probably exacerbate anxiety especially anything that has a cerebral high.

I don't have any problems sleeping with low-to-moderate amounts of alcohol and I certainly don't get hangovers unless I'm really getting drunk. Then again, we all handle different substances differently. For me, weed usually causes anxiety, sometimes acute, severe anxiety. And paranoia. Indica strains seem to do this much less, but also make me incredibly sleepy. High CBD strains seem to be best but are not easy to find.