My PFD is set up a wee bit differently. Think large turbo-prop over the ocean...

In most water survival situations the only initial priority is getting to the surface and then staying afloat. Only after you are safely on the surface breathing air do other priorities become relevant. (I say “most” because while I can’t think of one, but there may be some situation I hadn’t considered.) In the initial stages of an aviation ditching, it may be preferable for the PFD to not be activated. Aviation survival vests in general do not auto-inflate when they contact water. An inflated vest can make aircraft egress difficult to impossible. Once clear of the aircraft you can activate the CO2 cylinders.
Note: My aviation survival vest is a Switlik HV-35 modular vest (apparently no longer available) to which I attached a few MOLLE pouches. The closest in the current Switlik line is the Switlik - X-Back Air Crew Vest — 35 lbs of buoyancy.

My intent was to egress, stay afloat and then signal for rescue. When I equipped the vest my going in assumption was that we were far enough and low enough that the good folks tracking us did not have a reliable location (possible). I also assumed that the aircraft sank rendering its ELT (emergency locator transmitter) inoperable (also possible).

For signaling I carried a PLB in a dedicated pouch on my left shoulder; a marine VHF radio (Ch.16 et al) in the front left pouch; flashlight, strobe-light and laser flare in the right front pouch, and a signal mirror. It was about getting found and pulled from the water efficiently.