Then it’s the only experience that matters.
Most aren’t, but some are. It’s slower, but no one really cares about that, just about what you learned and what you researched.
The wrong degree (or the right degree at the wrong time) can damage your career even if you stay in your current industry. Remember that any new employer is going to care about your most recent degree, especially a doctorate. You might have trouble scoring a new geophysicist gig when they see that you have a new PhD in a completely different field.
It’s not just the number of years of experience, it is also the type of experience. This degree positions you to take a management position over industrial engineers. If your work experience does not also do that, you are in a lot of trouble. Your current prospective experience is as a geophysicist, and most companies would no more hire a geophysicist to manage industrial engineers than they would hire an industrial engineer to manage geophysicists - it happens, with the right experience and education, but it is hard.
My suggestion would be to start with a part-time masters in industrial engineering, followed by some experience in that role. You could look at the PhD and engineering management later.