I think TSMC may have averted an invasion by warning China that mere possession of their physical plant wouldn't be sufficient to continue operations. TSMC tweeted that they rely on a global supply chain to make chips. Invade Taiwan and away goes that supply chain. Moreover, if TSMC's equipment is damaged beyond repair during an invasion, it would be years before the equipment was replaced, if at all.
The U.S. has repeatedly said it would support reunification with the caveat it was a peaceful process that Taiwan agreed to. China screwed up when they didn't honor their commitment to allow Hong Kong to self rule after Britain left. They promised a One Country - Two Systems approach which they reneged on when Britain left. Reneging on Hong Kong warned the Taiwanese they wouldn't fare any better after reunification.
A path forward would entail restoring self rule to Hong Kong. Leave Hong Kong alone and Taiwan wouldn't be as reluctant to join the mainland. If China was smart, China could end up becoming the United States of Asia by letting other countries maintain their democratically elected governments and joining China like the Territories joined the United States. The word "States" in "United States" means self rule for each region subject to the powers reserved to the Federal government.
For that to happen, China would need a new Deng Xiaopeng to replace Xi Jinping. China's huge strides forward were due to Deng allowing private ownership, a huge break from Mao's legacy. Hopefully the Chinese recognize that before WWIII breaks out.