It sounds like you see value in (1). You're a little unclear on whether you want (2), since first you say your goal is not career progression, but then you ask how this is viewed by companies and recruiters.
From the perspective of someone who has been in the position of screening and interviewing technical candidates, both ICs and managers, most MS degrees don't add a lot to a resume IMO. If it's from a mid- or low-tier school, or an online program, I don't really put much stock in the quality of the program. Even upper-tier schools more and more give off the perception that you're just paying for a credential. I would say that if you have the motivation to learn the material on your own, and then put it into practice in a demonstrable way in your actual work (which seems like something that should be tractable, given your role), that would have more value.