I would limit the cloackies to sidearms (make the cloacking device take up the main weapons slot, problems solved). Nova knives should be banned for those suits, and melee damage reduced.

The main thing to do with a clocky should be sneaking up on snipers and shooting them in the back (you can do that nicely with a scrambler pistol) or hacking stuff behind enemy lines.

I dont want to see cloacked snipers or the ninjas with nova knifes who appear right behind you. If someone sneaks up on a heavy with a scrambler pistol, he should be dead. If he gets behind a sniper, the sniper should be dead. If it is a standard suit with a machine gun, the better one wins.

The value of a cloacky should be in breaking ambushes (if some snipers cover a narrow path, it can be hard to get through, even if you bring a lot of soldiers) or infiltration (hacking a CRU behind enemy lines, where reinforcements can be spawned).

I can even imagine cloackies to plant mines directly onto a tank (like it was done in WW2). You have to get very close, so the risk of beeing crushed is high. If you manage to stay out of harms way, you can plant your mine and win.