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Oh the truth...

When you join as the new PMO lead

I just want to sleep. . 🥹
Hyderabad or Banglore which one to chose.
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Mentor
It would look better for your resume to go back to your old firm, if you can
Mentor
Maybe it looks like you got scared but it says even more that your firm would want you back. If you hop to another firm they will wonder why you couldn't go back to your previous firm and it would look more like you move on since you can't cut it.
I’ve seen a number of people come back to my firm (v10) after a bad lateral move
I’ve also seen several “boomerangs” like this, where the associate only spent a few months at the new firm before coming back.
Mentor
Maybe a minority view, but I think there's a third option here which is to give it more time before making a decision. Why do you feel you're not a good fit, and how long have you been there? It takes at least 6-12 months to truly feel integrated and know what a firm is like. Having lateraled a couple of times myself over several years, I can confidently tell you no firm is perfect and they all have their issues. Unless you're seeing something that's truly a red flag (abusive behavior, stealth layoffs, etc.) I personally would make sure you give it enough time to make an informed decision. Also, you left your prior firm for reasons and presumably none of those issues are going to have resolved themselves, so you may just be looking again in a year anyway if you go back.
Actually I might be in the odd situation that the issues why I left are resolved (heard from old co-workers that the senior associates I particularly disliked have left/are being shown the door). I have been at my new firm less than 6 months though so get the point of trying to stick it out before rushing a decision.
Going back to your old firm should also be an easier process than going to another firm. If there is an interview process, it would be you explaining why you left, why the fit wasn’t right at the new firm and why you’re back over and over again. But you’ll need to convince the people you speak with that you’re not going to bail again at the first opportunity.
Keep in mind that you typically only have one chance at a boomerang move, so use it carefully. If you leave your previous firm again, you won’t receive the same leniency if you try to return.