There are always several options, and these also depend on your possibilities/wishes.
My approach would be:
Which room is it, how/for what is it used?
What does the floor as a whole look like – are there many pieces of furniture on it, rugs?
What are MY craft skills in this regard?
Financial aspect?
Is the room being renovated as a whole, meaning wallpaper, ceilings, etc.?
If this were not my absolute "showroom," I would first try the easier approach without the big/complex action. If the floor is cleaned and, depending on the product, possibly lightly sanded by hand or machine and then waxed/oiled, it will look great in my opinion. I know a tiler who had even poured gravel on the wooden floor in his showroom for a few weeks so that people could walk on it. Afterwards, it was cleaned and the rustic look sealed with oil/wax. A wooden floor visually forgives so much. We had a very old wooden floor in an old villa, a few scratches, a few gaps... great.
I definitely did not want to unsettle you, but back then I was also told, "just" sand with the big machine, the rest with a hand sander, and you’re done. By now, I am more confident in craftsmanship, yet I still wouldn’t want to do it because you quickly sand in bigger scratches than you had before. Of course, it was also because I wanted to remove 2mm from my 30mm solid wood planks and at first worked with coarser sandpaper.
You mention current stress, hecticness, etc., which is all the more reason to try the simpler version first because I see no reason why it shouldn’t work. In the worst case, buy a small tin and try it out.
For the floor immediately after installation, we used hard wax oil Original silk matt back then. Now there is also rapid for faster processing as well as colored variants. Since you don’t know how the current floor will absorb the color pigments, I would be more cautious there, although... I would be... unfortunately... brave.
When renovating, we wanted a different color and decided on machine sanding based on recommendation... with the well-known miserable outcome, as the colored glaze from décor wax showed the uneven sanding. The rescue was then opaque décor wax, which was totally easy to apply and held up until we moved out after another ten years (despite having a dog) and we always liked it (it’s probably still in there today). #Over the years we, for example, painted our former country house doors with opaque décor wax, and our formerly maize-yellow window frames with grey décor wax.
If it doesn’t work out, you can still sand later.
This is my opinion. That’s how I would do it, and don’t worry, I like to have things looking nice at home.
Looking forward to seeing how you do it... let us know.
So – hopefully you feel more confident again :D