As I've said here a million times, one of the reason independents when to Trump in 2024 was they didn't like the "lawfare" and other Democrat attempts to silence dissent. I'd be really careful about letting the desire to revenge lead the Trump Administration to make that exact same mistake.
But the FCC Commissioner DID use restraint, in my opinion. A prominent late night comedian had insulted the memory of a just-murdered young American (Charlie Kirk) who could easily have become President someday.
Also, the companies who deliver the "last mile" broadcast television in local markets took the ABC show off the air due to public complaints.
Nothing's to prevent Kimmel and others from taking their shows off the broadcast network and fully onto the internet. In fact, according to Google's research:
The bandwidth that the national broadcast access is a limited resource due to the physics of transmitting over-the-air TV signals. The internet is not so restrained.