I live it every day. People management is brutal. I went from a very techie individual contributor role to have 12 direct reports, including some contractors. I don't mind managing people, and I enjoy promoting others careers in the organization. But yes, you are taking on a LOT more responsibility, and that can push out the things you love about your job.
My friend and colleague handed the team to me because he hated it. Went back to being an individual contributor. I mean....he hates that as well now....but for different reasons