I assume that you are duplicating the layer and editing the copy. If you are not happy with the result you cannot make any corrections afterwards. Maybe throw in a mask and limit that way dodging/burning, but this is cumbersome.
Easy and you can use any shade of gray, but do you get good results? Advantage: easy to fix with middle gray paint if something goes wrong. Disadvantage: you have to paint very carefully if you want smooth transition between painted and unpainted parts of the image.
I am using this method all the time, with soft light blending mode. You can paint on it just like it is done in the Method 2 and use dodge/burn tool to build the effect gradually. If something goes somewhere wrong just paint over it with middle gray and do it again. With overlay and grain merge you get more pronounced effect / applied dodge/burn.
Method 4, can be good sometimes
- duplicate layer twice and set blending modes to lighten only and darken only
- use curves to lighten/darken the image
- use masks to control the areas of effect
Method 5
- use gmic’s local contrast enhancement or similar tool to make things pop and limit the effect with a mask