Squad spawning discourages teamplay elements like resupplying and reviving due to how easy it is to immediately respawn in or right outside of the same fight. It also makes the ebb and flow of a round less coherent since anywhere a player is standing is a potential spawn point, which is especially bad for new players. The benefit of squad spawning is that you aren't ever locked out of a fight because your squad leader hasn't placed a rally point anywhere or because they put it down 1000 meters away from any objective so that they could respawn while sniping.
I think that a good solution would be to turn rally points into teamwide, global spawns with the same fast timer as current squad spawns. In exchange, squad spawning should be removed from the game. Placing rallies should cost points distinct from those used by fortifications and supply drops so that someone building a super fob can't lock anyone out of placing a spawn. Squads should begin the round with enough points to place at least one rally point. An option to switch from global and squad only rally placement would probably be appreciated by some people, although there should probably be contextual restrictions to prevent situations where every squad would lock theirs.
The game should also ideally make it readily apparent to a squad leader whenever they don't have a rally point placed despite having the points necessary to do so. Some sort of HUD notification for SLs that's maybe not possible to miss would probably do the trick. A system in place to switch out SLs if one isn't using the system or is griefing would also probably help.
I'm sure there are issues with this but I have preferred player placed, static spawns over teammate spawning in any form that I've seen it in.