CEH is relatively basic. Take it when a job, contract or employer has already given you a reason to need it. Don't take it to prove you can conduct a penetration test. It doesn't do that, and it isn't in the same class as OSCP.
I hold it. That is why I'm careful about what it means
I hold CEH, CEH Master and other EC-Council certifications. Those credentials don't, by themselves, make me a competent ethical hacker. They show that I passed the assessments attached to them. That's a much narrower claim.
The title does a lot of work. Put "Certified Ethical Hacker" on a CV and someone new to the field can reasonably assume it certifies the ability to run an ethical-hacking engagement. The standard CEH exam is a knowledge exam. The current course includes practical labs, but training activity and the certification assessment aren't the same thing.
Three names that shouldn't be collapsed into one
CEH, CEH Practical and CEH Master are related, but they aren't three spellings for the same assessment. The CEH knowledge exam is separate from CEH Practical. Passing both is the route EC-Council uses for the CEH Master designation.
CEH Practical is the better evidence of the two because you have to do something in an environment rather than recognise an answer. CEH Master still shouldn't be read as equivalent to OSCP. The assessments ask different things of you. A team recruiting for hands-on offensive work will still want evidence of enumeration, exploitation, judgement and reporting under pressure.
The job-spec exception
There is a clean case for CEH. You've found a role you can credibly do, the advert or contract names CEH, and the credential is the remaining filter. In that situation, take the filter seriously. A qualification can be useful without being a good model of the work.
The same applies when your employer is paying because a client, framework or internal requirement asks for it. Let the requirement do the deciding. Don't reverse the logic by buying CEH first and hoping a suitable requirement appears later.
The self-funded mistake
If you're paying yourself because you want to become a pentester, stop before the checkout. At the time of writing, EC-Council lists the CEH knowledge-exam voucher at US$950 for remote proctoring or US$1,199 at a Pearson VUE test centre. Training, CEH Practical, eligibility and ongoing maintenance can sit outside that price.
That's a lot of money to spend before checking what your target employers ask for. Read ten suitable vacancies. If they repeatedly name CEH, you have evidence for the purchase. If they ask for practical testing ability, reports and a different certification, buying CEH because its title sounds right is the expensive answer to the wrong question.
What I would want to see beside it
Show me work. Explain how you scoped a safe test, what you enumerated, why you changed direction, what you chose not to do, and how you wrote the finding so another person could act on it. A modest lab or authorised assessment you can explain properly tells me more than a badge you can't unpack.
This is also why I wouldn't tell somebody to collect CEH Master as a substitute for deeper practical development. The extra assessment is useful, but the designation can still be overread by the person who holds it. Passing gives you a result. Competence has to survive contact with an engagement.
A note on CPENT
I've completed the CPENT course as well. I found that substantially more challenging and, arguably, closer to the shape of an actual engagement. That's a bounded comparison from my own experience, not a full recommendation. CPENT deserves a separate judgement rather than a paragraph bolted onto an article about CEH. And frankly it has earned one: if CEH is the multiple-choice quiz of pentesting, CPENT is the bit where you actually have to know things. It'll get its own write-up soon enough. It has suffered enough standing next to CEH for one day.
The decision
If a role or employer has named CEH, work out whether clearing that filter is worth the full cost to you. If nobody has named it, don't mistake a recognisable title for a route into offensive security. Build evidence of the work and choose an assessment that tests the ability your target role actually needs.
Check the current facts
EC-Council changes packages and pricing, so check its current CEH programme page and exam-voucher terms before paying. The TechWaymark CEH guide puts the current facts beside the wider career tradeoff. If offensive security is your planned first move, read why I think that route is often mistimed before choosing the certificate.