Ryan C. Thompson's answer is a good summary of the spell intent and issues involved, but doesn't include any rules citations. Thomas Markov's answer cites why the spell does not Hide you, but doesn't suggest how the spell is meant to be used after it is cast. I hope to combine elements from both these complementary answers into a single comprehensive answer to the original question as well as add some of my own insights.
Let's assume, as the question does, that you cast mislead "within enemy eyesight". At the time you cast, then, you are not Hidden - and prior to casting, you cannot have been Hidden. As the PHB Hiding Sidebar explains:
You can't hide from a creature that can see you clearly, and you give away your position if you make noise, such as shouting a warning or knocking over a vase. An invisible creature can always try to hide. Signs of its passage might still be noticed, and it does have to stay quiet.
When you complete the spell,
You become invisible at the same time that an illusory double of you appears where you are standing.
Spells do (only) what they say they do, and the mislead spell does not say that it Hides you. Thus, even after the spell you are still not Hidden. Although you are invisible, your illusory double is not, and it is standing where you are, perfectly revealing your location. If you do nothing else on your turn, you are still a quite obvious target.1
The intent of the spell is that after casting, you will then separate from the illusion to disguise your actual presence - after all, you are trying to mislead your foes as to your true location. However, the action economy is imposing some limits. You can't move the image until your next turn, since that would require the action you just spent casting the spell. Likewise, unless you have multiclassed to Rogue for a Bonus Hide action (or have a similar feature), you will not be able to Hide yourself before moving, meaning potentially the sound of your motion would be detected. What you should do next depends on whether you have Movement remaining.
If you don't have movement
Ideally, when you cast mislead, you had reserved some or all of your movement, so that you could protect yourself by moving away from your double. However, if you have not, at the very least you can quietly fall prone. Falling prone can be done on your turn without spending movement. A generous DM may say that this is worth disadvantage on attacks targeting you, since you are no longer at exactly the same location as the double, but even a restrictive DM should at least give ranged attacks disadvantage to hit you as per RAW for the prone condition.
If you do have movement and it is still your turn
If you have just cast mislead and it is still your turn, you will want to try to slip away from your double as silently as possible. A single space is sufficient if you anticipate only direct attacks, but farther is better if your foes have Area of Effect spells, and reaching total cover is good, too.
When one is successfully Hidden, they are moving unseen and unheard, but you don't yet have an action to spend on Hiding. However, you are invisible - already unseen without having to Hide. You don't have to Hide to attempt to move silently. This is a point that is often unappreciated, so it would be good idea to discuss this with your DM beforehand. But while spending an action on Hide allows you to attempt to move unseen and unheard, you are not required to Hide in order to attempt to move silently.2
After you cast mislead, you tell your DM that you would like to use your remaining movement, but doing so as quietly as possible. The might say that is not possible without taking the Hide action. But they might permit you a Dexterity (Stealth) check, even if you are not Hidden. Or, if enemies are at a distance and you are in the middle of a noisy battle, they could just say, 'no roll is necessary, no one is going to notice the sound of sandals on stone or rustling robes at more than ten feet'.
On your next turn
Once it is your next turn, you will have both movement and an action available, and a bonus action to switch to its senses if you want. You can now use your action to Hide and move away farther, faster, and with less chance of being detected, while it remains in place. Since you are invisible it does not matter that you are in line of sight of foes, 'you can always hide'. Or, you can use your action to move it, while you remain in place silently, or even move both of you (yourself as silently as you can without the Hiding action). As Ryan C. Thompson says, unless your foes have a reason to know that you specifically cast mislead, it should not be obvious what is happening. In a noisy environment, you might be undetectable and not even bother Hiding. If it is quiet enough to hear your footfalls or clothes rustling, you might stay close to your double - can your foes tell that your footsteps are coming from five feet away, not from the double, when they are at a distance?
1 Your double would be clearly revealing your location for Area of Effect spells. Direct attacks on you, in a strict sense, would be at disadvantage since:
When you attack a target that you can't see, you have disadvantage on the attack roll. This is true whether you're guessing the target's location or you're targeting a creature you can hear but not see.
Your attackers aren't guessing your location, but they can't see you, so RAW their attacks would have disadvantage. However, if your double is exactly superimposed over your current location, a less permissive DM might still allow the attacks to happen as normal.
2 Hiding is explained in Chapter 9, Actions in Combat:
When you take the Hide action, you make a Dexterity (Stealth) check in an attempt to hide, following the rules for hiding. If you succeed, you gain certain benefits, as described in the "Unseen Attackers and Targets" section later in this section.
As above, Hiding uses your action to make a Dexterity (Stealth) check. But not all Dexterity (Stealth) checks require using your action, and not all of them necessarily Hide you. In Chapter 7, Using Ability Scores, we find that you:
Make a Dexterity (Stealth) check when you attempt to conceal yourself from enemies, slink past guards, slip away without being noticed, or sneak up on someone without being seen or heard.
In the case of 'slipping away unnoticed', suppose you are in a crowd. You attempt to leave, perhaps slipping into an alley without attracting the attention of someone watching for you or following you. You are not attempting to be unseen or unheard or Hidden, just escaping their notice. In this case, you would not spend your action to Hide. Instead, this would be resolved by the standard procedure - you tell the DM what you are trying to do, and they tell you the result of your actions (in this case, asking you for a Dexterity (Stealth) check and letting the result determine your success or failure).
As another example, suppose you are attempting to 'slink past guards'. The DM informs you that they are talking loudly to one another, and making enough noise that you don't need to be silent. On the other hand, you will need to pass by them in an open area - there is no cover, there is no way you can Hide or remain unseen. But if you time your movement just right, they will be looking the other way and you can slink past. In this case you might be permitted a Dexterity (Stealth) check without even attempting to Hide.
