I started thinking much about this as I got so many hands today similar to this.
Imagine having Q 
T 4 3 Q 
on the button.
Which hand do I play for if for example I have 1 caller from the BB?
Drawing with the FD and cbeting 100% regardless of whether I improve or not has more FE.
Drawing with the QQxxx and cbeting depending on the villain (how loose he calls post draw) has more equity.
Also this is same as having OESD + Pair so it could also be discussed.
Hold the pair. You have a made hand in late position. If you draw to a flush/OESD hand you forego your pre draw equity edge.
If you don't have the pair then by all means raise as a steal and rep two pair, but giving up a ton of equity to mostly bluff post draw doesn't make much sense.
Yeah I would have to say stick with the made hand. Of course as always the line you take depends on the player after you. I've busted ppl with more busted flushes with trips or less tons o times
