Do I ask to have my job title updated as soon as possible?
I'm a junior developer at a company that doesn't seem to have a formal process for reviewing or updating job titles. Recently, my manager told me they see me doing the work of a mid-level developer. I just got a raise a few days ago, and my manager said I'll have higher chances of success if I bring up the title change in a year during my next performance review—when I ask for another raise. Although he was also available to go talk to HR now. I'm unsure whether I’ll be changing jobs soon, but I’d like a better title now in case I do, since it could help me access higher salary ranges elsewhere. A title change alone doesn’t cost the company anything. Also, I don’t quite understand my manager’s reasoning. Wouldn’t it be harder to get for both a raise and a title change at the same time? It's asking two things instead of one. Should I ask for the title change now, or wait until the next review as suggested?

I'm a junior developer at a company that doesn't seem to have a formal process for reviewing or updating job titles. Recently, my manager told me they see me doing the work of a mid-level developer.
I just got a raise a few days ago, and my manager said I'll have higher chances of success if I bring up the title change in a year during my next performance review—when I ask for another raise. Although he was also available to go talk to HR now.
I'm unsure whether I’ll be changing jobs soon, but I’d like a better title now in case I do, since it could help me access higher salary ranges elsewhere. A title change alone doesn’t cost the company anything.
Also, I don’t quite understand my manager’s reasoning. Wouldn’t it be harder to get for both a raise and a title change at the same time? It's asking two things instead of one.
Should I ask for the title change now, or wait until the next review as suggested?