Countries have ceded land to Russia before and continued to exist. Finland did it. There may be many reasons for Ukraine to continue the fight but the whole “it will embolden Putin or others” is a terrible argument. It is a an argument to never end any war until total destruction.

It is not just about Ukraine and Russia anymore. Millions could be starving around the world if Russian and Ukrainian food does not get to world markets.

Yes, Ukraine is winning now but that also gives good negotiation position. You should negotiated from strength not weakness. Look at Assad in Syria. We had a chance to negotiate peace with him when he was weak but then we blew it by continuing the fight until he got on the offensive again. Eventually all was lost.