Looking at the South Africa and UK data, it seems that with Omicron, the curve is not as symmetric as prior variants. The downslope seems to reach a plateau and then have a slower decline. I don't know if this is due to reinfections by the subvariant.
Looking at the CDC data and overlaying the new hospitalizations on the case chart, it suggests that, for FL which I looked at, the infections continue to decline even though the cases seem to have hit a bit of a plateau. It could also mean that the subvariant is coming into play and is even more mild than the original Omicron.
The new hospitalizations are significantly lower than they were at the same level of Delta cases. The seven day average of new hospital admissions is 1,755 while the seven day average of new cases is 35,266 (4.97% hospitalization rate). During the Delta outbreak, the last time there was a similar average for hospital admissions it was 1,771 with a seven day average of 18,048 new cases (9.8% hospitalization rate). People are also spending less time in the hospital because the difference in current hospitalized COVID patients is even more stark.
For the same two days, the number of currently hospitalized COVID patients was 10,626 and 15,134 respectively.