Implement custom caching plugin (solution) by Cloudways
I think cloudways should come out with their own caching plugin (solution). In my case, it's specific to WP.
The reason being, caching solution works differently from host to host, and is not one solution fits all. And plugins from time to time come out with new versions that may break lots of things, and a ton more reasons.
As cloudways implement lots of custom stack and caching, they should also use and release updates pertaining to their install.
Unless you have a better way, at least when a new version is released, and cloudways has already tested the version before the public version and everything is "good to go", then by all means use that method.
But other platforms that are tailored to WP has their own cache plugin that fits their installation, so I think CW should also have its own caching solution.