I take the game really seriously as well, but here is how I cope.
First of all, I just forget about long term goals. Focus purely on the short-term goals instead. The higher you rise, you more depressed you feel realising the long-term goal is just so far away. I mainly have very short term goals based on trying to replicate other people's top ranks and set personal targets for maps I want to FC. e.g. One of the maps in my short-term goal listl is to get a 98.5% HDHR FC on sola - Flower's Lunatic.
Next, set aside 2 hours a day for osu!. I usually only play at night but I still religiously play 2 hours a day and it is sufficient to see improvement in my gameplay over the past year. You don't have to forget about rank, but rather work towards achieving your short-term goals - This is what I did - make several collections of maps I want to FC in the near future and play through them without retrying more than 3 times each.
14 hours of studying a day is nonsense. No human can possibly do that - instead of procrastinating, set aside 2 hours to play osu! and make sure you get your work done faster. If you get home late like around 8pm, you can still play before you sleep if this game is that important to you.
Make sure you set your priorities straight by ultimately still focusing on your studies and having a social life. When it comes to exam week, definitely forget about the 2 hours a day. As long as you keep playing, you'll keep improving.
Good luck and all the best.