There are more pros than cons, honestly. I have been a psychiatrist for more than 20 years and never regretted my choice. Psychiatry is a fascinating medical specialty, you have the opportunity (and the need) to be always learning new things. Mental health suffering is a serious issue and being able to help others overcome or at least deal a little better with this suffering can be really rewarding. Psychiatry is very broad in the sense that there are quite a few different options in terms of types of jobs, subspecialties, and places where you can work.
I cannot think of any specific negative aspect...maybe the duration of training and investment. To become a psychiatrist, you need to go to college, then medical school, and then at least four years of residency training. It is a long journey, but it eventually pays off...
So I worked crazy hours in residency and as a young psychiatrist, then much less when she was young, then full time (not crazy hours) and now, as a 73 year old, I work three days a week.
Telemedicine has suited me (Covid forced us to pivot to telemedicine) and when my lease is up in 12 months, I will work exclusively from home.