The moment China puts a naval presence in the Middle East, Trump and the US gov will announce that they succeeded in forcing other countries to join in the effort of "opening up Hormuz". And the tacit agreement between all major powers in Europe and Asia to "by-stand and not physically involved" would have collapsed. The US would then have the upper hand to persuade the Asian countries (Korea, Japan, India, etc.) to join in the effort in order to balance China. And once the Asian are in the game, the US would have no problem persuading the Europeans to join in.
China is NOT among the countries most vulnerable to Mid-East supply disruption, contrary to popular belief. Many key US allies are much more fragile and much less capable of withstanding the aftermath of this US blockade.
Therefore, there is no need for China to jump the gun so early.