Generally, CA state jobs pay very little, at least at the beginning. As you go higher in the salary steps, and higher in the grades, then the salaries, in my opinion, are too high for the work demanded, considering the 40 hour week and vacation amounts. Basically, I think that, in 2021, $60k for a starting accountant is too low, but $140k for an accounting manager is too high, considering the work week is a flat 40 hours (no overtime) and 6 weeks vacation. An accounting manager in the private sector making $140k would work WAY more than 40 hours per week, and not get 6 weeks vacation. The salaries in question are for local CA governments; the state pays less, so your situation may be different.
Also, you are exempt from Social Security, so you'll save that amount from your paycheck. Depending on the agency, you may a similar amount into the retirement plan. To the degree that Calpers stays solvent, the state retirements are fantastic. Further, you should be eligible for retiree healthcare at minimal cost.
Overall, if you're only taking a 25% pay cut, you're most likely to be way ahead of your current compensation, considering the benefits. My wife gets crazy, gold-plated Kaiser plan ($10 copays, cheap prescriptions) through Calpers. It won't cost you much. Also, you may get 2.4% of your salary for each year of service in retirement. This can be substantially more than Social Security, which you would have already from years of working regular jobs.
A downside, as you mention, is that the state is old-school with respect to working conditions. Absent Covid, it's butts-in-seats from 8 AM to 5 PM, unless you're vouching PTO. So you'll have to vouch 2 hours of PTO to go see the doctor. On the other hand, you can expect the option to work a 9-80 shift, or go to 32 or 24 hours per week, but keep full benefits.
Depending on your age, the stability of state employment can be a big benefit. Ageism is real, and if you're pushing 50 you're likely to face serious unemployment, which isn't a factor in government. A lot of government workers switch from the private sector as they get older, and start to hit ageism.