The motor is plenty, assuming the majority of your miles are not towing. I have the 3.42 and have plenty of power towing my boat which is around 2200 total (boat, motor, trailer, gear). The tow haul mode really helps on hilly terrain. Mileage sucks towing, about 12, but getting 18 empty (which is 65-75% of the time) isn’t too bad. I had the 3.73 in my last silverado, had more ‘snap’ and better mileage towing at about 14-15, but only slightly better empty at about 16 so in total I’m using less gas with the newer truck.
If it’s going to pull double duty as a daily driver the 3.42 can get the job done well without burning extra gas, if it just a towing vehicle the 3.73 may be more effective (or a 3/4 ton for that matter).