It is not that it had to wait to be "established", it is obtainable from what was known by trivial algebra, but rather that it had to wait for a reason to write it that way. In the early years of relativity the concept of the "electromagnetic mass" of electron was prominent, which suggested that said mass is velocity dependent. It was at odds with Einstein's kinematic approach in special relativity, but he reflected it nonetheless in what came to be called "relativistic mass" $m$. So it was more natural to relate total energy to that mass rather than to the rest mass $m_0$, which made for a simpler formula $E_{total}=mc^2$, see Why is Einstein's mass-energy relation usually written as $E=mc^2$, and not $\Delta E=\Delta m c^2$?
The notion of relativistic momentum $p=\frac{m_0v}{\sqrt{1-\frac{v^{2}}{c^{2}}}}$ was introduced by Planck in 1906, but it is only natural in Minkowski's spacetime (4-vector) context, which Einstein disfavored for a long time as too fanciful, see What was the relationship between Einstein and Minkowski? Apparently, he changed his mind around 1921, as reflected in Stafford Little Lectures. Incidentally, the "relativistic mass" does not fit well with the 4-vectors (it is not Lorentz-invariant), see When and why did the concept of relativistic mass become outdated?, so it became reasonable to relate the total energy to the rest mass and momentum instead, as Dirac did. Einstein only disclaimed the "relativistic mass" explicitly in a 1948 letter to Barnett, where he also endorsed Dirac's form of the momentum-energy relation. Here is from Adler's Does mass really depend on velocity, dad?:
"The electromagnetic world view that occupied much of
the first quarter of this century has been extensively and
elegantly discussed elsewhere. The general idea was to
construct an electromagnetic model of the extended, as opposed
to the point, electron. The properties derived in that
way were assumed to be extendable to bodies other than the
electron. One result of this work was to predict a velocity dependent
mass... Einstein's relativistic
mass had its origin in the kinetics of his special theory
and not in the structure of the particle. In fact he observes
that "with a different definition of force and
acceleration we should naturally obtain other values for the
masses (meaning, longitudinal and transverse masses)".
Whatever Einstein's precise early views were on the subject,
his view in later life appears clear. In a 1948 letter to
Lincoln Barnett, he wrote
"It is not good to introduce the concept of the mass
$M=\frac{m}{\sqrt{1-\frac{v^{2}}{c^{2}}}}$
of a body for which no clear definition
can be given. It is better to introduce no other mass
than 'the rest mass' $m$. Instead of introducing $M$, it is better
to mention the expression for the momentum and energy of
a body in motion". The question naturally arises as to what motivated Einstein to this new view given his earlier use of the concept. The answer, I believe, is that by at least 1922 he had adopted
Minkowski's 1908 space-time (four-vector) approach to
special relativity."