My general strategy is to accumulate points/miles in currencies that I know will be useful, use them for their best purpose when possible, and avoid letting them expire.
For Chase URs, I would only cash them out if I were going to lose them, either by closing the parent card(s) or if there were going to expire. And generally it's easy, with a little bit of hassle/attention/organization, to keep them from expiring.
In your shoes, I would probably take a wait and see approach, especially if the URs are expiring a year or so from now and if I wanted to travel. I personally have domestic travel booked for September and international travel booked for December. I'm hopeful that I'll be able to go on those trips.
If you think you're not going to travel anyway (i.e., if you think it's a reasonable possibility that travel restrictions will be lifted but you'll still not want to travel anyway due to your own reasons), then that'd make it more reasonable to cash out.
If you decide to cash out, I'd look at ways to cash out into gift cards. Those are usually better redemptions than straight cash back, although I'm not sure offhand if Chase URs can be used that way. They probably can; it's a pretty good currency.