Get with people, make some music and have some fun even if it's for a relative short period*. If nothing else, it's good experience for you to get used to dealing with "being in a band". There is so much to manage beyond learning your parts and grooving together that only experience can provide. You need to figure out which types of people you will enjoy working with, which you don't mind and which you refuse to work with. The sooner you start working with people, the sooner that experience begins.
I probably wouldn't be inclined to venture into an originals project though if you expect to be moving on. These are a little harder to sustain when an individual moves on. But cover band: oh yeah.
*If you can get a band to last two years without personnel change, it would be very odd.