I think that Putin getting kicked out of Kherson was an inflection point. Now even Putin must realize that he can't get Odessa or Moldova in this round. In September there were rumors that the Russian generals had wanted to withdraw from Kherson earlier, but Putin wouldn't let them, and that's precisely because the Kherson bridgehead was Russia's key to western Ukraine, to keep Ukraine from being a viable state by denying it the Black Sea coast, and to build a land bridge to Transnistria and Moldova. But that's all gone now, and I think Putin would settle for the lands it has occupied for now if it would make the pain go away. It's true that even giving Russia even that would be a grave injustice and not acceptable to Ukraine, and might lead to new fight down the road for rest of Donetsk. But this is not an existential question for Ukraine.
That's why I think, if there is a stalemate, Ukraine might be wiling to cut its losses in 2024.