Why 5-10 years? This is a very good time to invade Taiwan:
The USA can't fight or get involved in two wars that are so geographically distant.
Europe has no stakes in Taiwan other than financial and, if I recall well, the reliance on chips that (I believe) you posted about a long time ago.
Europe could not care less about democracy in Taiwan. It is one thing that was made clear with the war in the Balkans: as long as it is not happening within the EU borders, they care very little for anything happening outside. They issue statements and nothing more.
China does have economic leverage against the west. All the American and European manufacturing that is done there would be at stake.
China has been building, for years now, solid supplies for raw materials from Africa and S. America. Several countries in my continent are, at a minimum, partial to China over the USA (Venezuela Argentina, Mexico and all the other leftist buffoons). None of them even recognize Taiwan as an independent nation (as neither does the USA or the EU). So they are not exposed to sanctions related to embargoes.
Vlad and Xi truly see eye to eye. No need to believe that Xi is not looking at the USA/EU response and saying "I can deal with that easily. We are the world's second largest economy".
Your ideas are truly expected (and I am not joking there).