Is it wise to devote your time to co-curriculars in University?

Not-so-recent grad here. Just have fun! I would say grades don't matter as much, unless your grades are really bad (below third class honours). I've got friends who got third class honours and are doing pretty well today in terms of salary :)

If you dont want your final 4 years of formal education to be just lectures, ppt presentations, mugging, its best to have at least one non-academic activity/passion to pursue.

There's no harm in joining something for one semester - It's not a dichotomy.

Find a CCA which you are interested in. You will get to hone many essential skills and be exposed to different kinds of people. Also, CCAs might be a good conversation topic during interviews as Hiring Managers get to see another side of you. However, do learn how to strike a balance between your CCAs and studies.

If you find that you are unable to cope, you may wish to look at how you manage your time. Perhaps you are spending too much time on social media, or going out too often with friends? Find out what is important to you and reduce spending time on unnecessary things and you will find that you can accomplish so much more during a day.

Ultimately, I would advise you to enjoy your university life as it is not all about studying :)