I don't think China has the stones to do it. The next threat after Taiwan is to Japan and South Korea and there's a whole bunch of bad things that will happen if it goes that far. China expanding their presence in the region by way of full-on invasion will likely provoke WW3, even if we're not there to participate.
And who's going to oppose China?
The US won't.
Europe won't.
Russia won't.
The only power that may oppose them is India, and they're already in a multifront light war.