True, Philips HQ is not a US company, but the one was blocked by the US govt is definitely a US company ... even the main shareholder may not be Americans.
I agree with you, it won't stop China to master GaN chips implementation, it in fact will even encourage Chinese Govt to pour unlimited cash and resources for it, like it has been proved again and again
I think it is likely that the attempt to acquire that stake of Philips could have potentially had benefits for Chinese development of GaN radars and other military technologies involving semiconductors, and it was probably one of many attempts at deals by Chinese companies in recent that could have military applications.
However this specific acquisition attempt doesn't actually tell us whether it was motivated primarily or even partly by the potential military applications, and it most definitely doesn't tell us what stage of development the Chinese are at themselves (various institutes already offer some GaN based semiconductors for various military purposes including radar applications -- I'm not as familiar in regards to civilian offerings). Therefore it's probably a mistake to perceive the block of this sale as any sort of major blockage towards China's GaN development because we don't know where the Chinese are at.
What this specific acquisition attempt does tell us is that the US felt it was a risk to their national security if they sold their particular stake, so they blocked it.
Given the relative newness of GaN technology for military applications in not only the US but internationally, it made complete sense for them to block the sale.