In programming world, you get to see 3 types of people w.r.t CP and projects:

1. People who love CP more than Projects.
2. People who love to do Projects than CP.
3. People who equally give priorities to CP & Projects.

Straight answer: Projects>=CP

It's good to go if you give more time to CP rather than projects. There are companies which hire just by looking at your problem solving skills even if you have no experience in building projects.

But the problem would arise when you start working in the real world, you might find it difficult to understand the code of pre existing project(of the company you got placed).

More importantly, you will not sit in front of your pc for 8hrs and do CP instead you are gonna code and build projects.

Basically I'm the person of type 2 whole loves to build projects than CP.

What I suggest is to focus on & build projects because this is kind of work that you are gonna do in real world.

But still you can't ignore CP. Even if your projects are good but lack in problem solving skills then it could be difficult to face placements.

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So I suggest the following learning path:

• 1st year: Learn and master any one programming language(C++/Java).
• Holidays after 1st year: Learn any technology like web or app development, machine learning, data science etc.
• 2nd year: Learn the heart of programming i.e DSA. Also focus on projects and get started with open source contribution.
• Holidays after 2nd year: Learn a new technology and if possible, do internship because you get to know the real world experience.
• 3rd year: Be in touch with projects and spare atleast 1 hour daily on CP. It's your wish to learn a new technology also.
• Holidays after 3rd year: Complete preparation for your placements. It's your choice if you wish to do internship in this period of time also.

If you haven't started any of the above mentioned thing then it's ok. It's never too late to get started with coding.

Know that it requires your 100% dedication, hardwork and consistency to achieve your goal.