I am sure that Bytedance CEO would love to sell TikTok to appease the US, but unfortunately for him (+ his billionaire buddies), CPC is in charge. And for the CPC, no way in hell it would agree to sell TikTok under duress.
There are actually two big issues involved here:
First is that there is a non-US propaganda controlled social media platform in the West available to the public. US was half-ok (begrudgingly after China fend them off the first time), but after the Israel war, it is now 100% intolerable to the US elites because it showcased how they are losing the public opinion battle
Secondly, and more importantly, the US succeeding in that theft (that's what it is), would mean that Chinese enterprises are now in the chopping block for Western countries to steal from them. This is absolutely impossible for China to tolerate. Imagine all these BRI projects. Now imagine the West going to all these countries saying "you can steal Chinese developed assets". It may sound far-fetched, but that's the inevitable end-point of allowing theft of your assets.
So, China has to fight, and fight hard. If the US wants to block TikTok from operating there, that's ok. They are sovereign country and they are allowed to give or forbid access (btw nobody cares about WTO or laws or whatever). What's not ok, is the US stealing TikTok. Bytedance would retreat and indeed do it, I am 100% sure about it. But fortunately CPC will not allow it. Xi knows how to pick his battles, and this one is definetely one of them if that Bytedance CEO is deluded enough to bow to the US
How much are they willing to pay for tiktok, as it is clearly more valuable than nvidia. They will need to pay US$3 trillion, and more importantly they need to pay in RMB instead.