Let me preface this by saying the impact of social media is very personal and ymmv. With that said, transitioning my usage from general platforms such as Twitter and Facebook to those that target a specific usage has improved my mental health.
For example, no longer am I on r/golf as I've switched to https://www.golfwrx.com, I've replaced Instagram with shared albums to those that I'm close with, and I've spent more time reading blogs and responding to newsletters than on news aggregators where discussion tends to fade away almost instantaneously - the irony, I know.