They have an interest in weakening China so they might follow any sanctions better than they follow those against Russia but that's about it.
The Taiwanese will be hurt bad, but there is no way the PLA is simply waltzing up the beaches. It will be a contested landing, there will be massive losses, of ships, of materiel, and of citizens. Ukraine is telling them to think very hard about what they really want.
It's more likely the KMT regain power and there's a soft rapprochement. At least one candidate has said as much.
Why? Both China and Russia are good at playing the long game. So China will probably want to see what Russia gets out of its war (if anything), before deciding whether invading Taiwan is worth it. Or determine how to go about it.
Hopefully Taiwan keeps up (and up-to-date) its defenses enough that any invasion by China would be more costly to agressor than any possible gains.
Promises of (military) support for Taiwan by 3rd nations do help here. Yes if shtf things may escalate much further. But it also makes invading Taiwan a much riskier proposition, potentially much more costly than if 3rd nations leave Taiwan to defend itself without help.
I'm counting on China to not be stupid enough to take such risk.
My hot take is LAC is basically going to turn into a no mans land with autonomous fires. Territory too inhospital for large scale war. India population centres too close for PRC to make progress. But PRC industrial heartland shield by plateau - too far for Indian capabilities to disrupt. Unless they allow US basing, then it will get... very ugly. But more or less there's no winning for either side. Only escalation is IND start hitting PRC shipping in Indian Ocean (which will piss off MENA and RU exporter) in which case PRC conventional rockets can take out India refineries in return, which is basically going to spread to CONUS and other US east asian security parters, because if PRC is going to have her energy disrupted, everyone else is going to live like North Korea as well. TLDR is until countries formally commit to TW defense, it's all theatre.
Here's my hot take: China won't want to fight India with steel shovels and rakes up in their border disputed region because no sane economy wants to fight a war on two fronts. So India may gain 20 to 25m in that border dispute for a decade or so.