If your phone now has a new eSIM, there are a few options for your old SIM.
If you have transferred your SIM to an eSIM you no longer need your SIM card. You can store it securely as a backup Or you can destroy it and dispose of it as you normally would.
If you have added a ESIM to your phone you can still keep your normal SIM and switch between them. You can use your SIM or ESIM for calls, texts or data. Each one can do part of this work or all of it.
So, keeping your SIM card makes sense unless you no longer have that plan.