OP, I'm sorry you are in the situation you are in. Ultimately, you need to decide what's best for you and execute on that.
Yes, Cisco has a lot of out-dated processes and technology. It's a company that's been around for 30+ yrs, built a lot of internal processes that drove the business. Only in the past 5-7 yrs has Cisco started getting rid of internal tools to buy/license products that can be customized to fit different businesses. It's very slow to remove the entrenched processes and update them with newer tools & processes. Many of these changes suck because trying to customize ServiceNow, Workday and other tools to fit into Cisco make them worse than they are out of the box or at other companies.
As to your manager, I can say I had a manager who sounds a lot like him, but he never stayed on the same team/in the same business unit for more than 3-5 yrs because his BS couldn't hide his incompetence for longer than that. My current manager is also a college hire who's been at Cisco all his adult life. Yes, his technical skills are outdated because he was a network engineer. Now he's a manager of a software development team. Unlike your manager, he puts the onus upon his team to make the right decisions about technical issues. Pick the right database type, pick the right language to write this code in, purchase plug-ins or buy this license. We make the decisions, but we have to defend them if the costs are not cheap. If we can show a business case, he does all the PowerPoint decks and spreadsheets to get us the budget or makes the higher up's know why we can't get xyz functionality because it was too expensive and they refused the budget increase. He's basically a shield between us and our director, senior director or SVP. I've had one other manager that was that way, but he came to Cisco that way and only managed 10 yrs before he had to leave or suffer burn out. How long my current manager can survive as a manager with his work ethic will be interesting to see. But at this point, with 27 yrs experience at Cisco he's probably ready to retire whenever they offer an ER that doesn't have a minimum age limit of 50. And I'll be sad to see him go. Managers like him are hard to find.
He's also one of those work/life balance hardliners someone else mentioned in another thread. He expects you to work a night or a weekend when a release needs to roll out or we're migrating hardware, but if there's not some business deadline that needs people to work long or non-business hours to meet, then if we need time off to deal with family, go to the doctor, dentist, DMV, parent/teacher conference, whatever, we're free to do so.