THREE POSSIBLE ELEMENTS TO A COMPROMISE WITH RUSSIA

1. Treaty of neutrality or a moratorium of 10 or 20 years on Ukrainian membership in NATO. The West loses nothing by this, since it is clear that Ukraine cannot in fact join NATO with its conflicts with Russia unresolved. In any case the U.S. and NATO have made it absolutely clear that they cannot and will not defend Ukraine by force.
2. A return to the (Adapted) Conventional Forces in Europe Agreement limiting NATO forces in eastern Europe and Russian forces in contiguous territories.
3. An internationally-guaranteed autonomy for a demilitarized Donbas within Ukraine, according to the Minsk II agreement of 2015 brokered by Germany and France but since in effect rejected by Ukraine.

Failing at least initial moves towards such a compromise, it does indeed look likely that there will be some form of new Russian attack on Ukraine, though by no means necessarily a large-scale invasion. In the event of war, however far the Russian army marches will be followed by a new Russian proposal for a deal in return for Russian withdrawal. The only difference between then and now will be that NATO will have been humiliated by its inability to fight, the West and Ukraine will be in a much weaker position to negotiate a favorable deal—and that in the meantime, thousands of people will have died.