I have suggested the same. Ukraine would have to have meaningful security guarantees from the west, or Russia would just use the “treaty” to rearm for another war. I don’t think Russia is willing to give up on territory taken in 2014, but they could negotiate neutrality and disarmament of the LPR/DPR/CRIMEA.
LPR/DPR must go back to Ukraine.
That is non negotiable.
Crimea can be bargained.
Again, just my opinion.