In a band setting, every musician has a distinctive place.
Within a song this place can change: backup to solo, full chords, riffs, etc.

Leaving space is important, especially when playing accompaniment.
Hammering away bar chords on every beat is a no-no.

But you do want to make the harmony clear!

In this example, you’re playing the top three notes of a ninth chord, sliding them up two frets and sliding back.
All the notes you’re playing come from the mixolydian scale and by playing these broken up chords, you’re defining the whole harmony.

The rhythm leaves enough space for a vocalist or soloist.

When you’re moving to the IV and the V chord, just move the whole thing up to the D and E positions (5 or 7 frets).

You can play the same notes/chords a lot closer together by using the chord forms in the second chorus of this example.
Play the D7 and E7 forms by barring your index finger across the top three strings.

Audio example 1 is the groove on the I-chord.
Audio example 2 is the turnaround V-IV-I-V.