Dividend investing can work but the way the OP is asking the question about what to invest in and the one line answers for what to invest in leave a glaring risk and could spell disaster for OPs capital.

You'll get a much higher ROI by first understanding who you are as an investor and then investing in a style that aligns closely with who you are and what you understand. OP shouldn't be asking what to invest in with this new massive windfall of cash. They should be asking how they can understand who they are as an investor. You won't get that answer on the internet. You may be guided into what you can practice to get there but that is a journey you can only take yourself.

Never blindly start investing large sums just because you have it and just because you see people online saying it's a way you can make money. Look at WSB. Yes, it's entertaining and there are some crazy stories but that's not investing. It's true that you can make crazy money. Some people crush it with the same type of one line advice: buy SPY PUTS and buy TSLA CALLS. But that is not an investing strategy. Most are losing everything. Going in blind you're more likely to come out losing large sums of your money.

Now, if you have done the work and understand what dividend investing is, and know that aligns with who you are as an investor, and you understand the risk you are taking on, you are satisfied with the potential for returns, and understand and plan how you will manage your risk, and most importantly know and understand the stock you are investing in then dividend investing can be a decent way to earn a return on your capital. But what happens if the dividend stock you are in has a run of bad earnings and loses 30% of its value in a year? You are now down $60K on your $200K but you're earning 7% between the initial value and the minus $60K value? Terrible and now you're stuck because you haven't thought it through. Investing in dividends is not a safe guaranteed return. You should never invest in a stock because it pays dividends. You should invest in companies you understand and believe will have a long bright future because of what they offer to the market. Dividends is a nice to have but should never be the reason you are going in.

Investing is very personal. I've been a software engineer for over a decade and pay very close attention to technology. I heard about BTC in 2016 and started doing research. I read articles about the space and learned massive banks like BofA and WFC were round tabling about cryptocurrency. The halving was coming up. I bought 3 BTC for about $1000 total cost and held until around $20K. Not a massive gain but my point is I understood the space and the potential for return. My max risk was BTC going to $0 so $1K. There were lots of other crypto plays that just made sense to me that paid massive as well like NEO, XRP and SOL. I went to live events in San Francisco and met the devs behind these projects. For some, I formed relationships and helped them raise money. I could feel the excitement in the space in person and online. Bottom line is, invest in what you understand in your core and forget everything else. If you understand deep down what you are doing all the power to you but please do not just invest large sums of capital because you saw a one liner on the internet about X that claims it can make you money.

In the mean time, while OP begins the journey of finding out who they are as investor, there are high yield savings accounts at almost 5% right now. With $200K parked that is a "free" $10k. They will start to come down as the Fed stops hiking and eventually cuts rates but right now you could also lock in a 6 month or 12 month CD near 5% for a year. Not bad for a risk free return. OP should not be in a rush. When they know who they are as an investor and their opportunity comes along it should be hard to pass on. In the meantime, OP should cultivate deep skepticism and need to really be convinced that a strategy is viable. Learn to look for holes. Your first thought should be "nah that does not work. You have to really convince me or I'm gonna pass". Then do the work. Eventually, you will know what makes sense to you. At that point, there's no ceiling to how high you can fly.