What to do if unhappy with 3% raise.

I I'm incredibly grateful for my current role. It's a job I genuinely love, and I appreciate the perks like covered gas and phone expenses. I always have surplus gas money, and my phone is always covered. My workplace is fantastic, and my boss is exceptional. She's been instrumental in my professional growth, and I truly value our relationship. I also run a side business, and I'm fortunate that my boss allows me to bill her for certain services, providing me with both W2 and 1099 income. While the 1099 income is variable, it's a significant benefit. Some months, my 1099 income exceeds my W2 salary, but I understand it's not guaranteed to be consistent. Last year, I received a 14% raise, which I appreciated. However, this year's raise is 3%, which feels a bit underwhelming, especially considering the increased responsibilities I've taken on and the current inflation rate. I don't want to seem ungrateful for my compensation package, which includes the valuable 1099 income. I understand that this income is separate from my W2 salary and a unique benefit of my current role. However, I'm concerned that a 3% raise might not adequately reflect my contributions and the rising cost of living. What should I do? Live with it this year and circle back next year? I don’t want to risk putting a sour taste in my bosses mouth about seeming ungrateful. Just need advice. This is my first big boy job.