Disclaimer: I’m about to say stuff that are just my impressions, without a lot of “I think” or “I believe.” Take those as implied.
Generally the stress of management is in coordinating various personalities and balancing competing priorities, while being on the hook for delivering results without having any direct impact on whether a project gets done to a high degree of quality. They rely on others’ expertise, some of whine may not be that reliable, and it’s stressful!
Directors and VPs have that stress plus they are more directly accountable to financial results. However, they have to be cheerful and optimistic and never show weakness or worry to an almost psychopathic degree. This may look like a good work/life balance externally but internally “work brain” and the weight of stress are relentless. The bad ones sublimate stress and occasionally explode and yell at their subordinates.
To engineers none of this looks like “work” because none of it produces concrete results. (I haven’t mentioned the endless word docs to read and write, and the spreadsheets, oh god the endless spreadsheets.) But it does accumulate a lot of stress and anxiety.
On the vacation side of things, seriously, take a vacation! It will be okay!