This makes sense.
Uhhh...unlike the Golan, Israel has never annexed the West Bank, except for East Jerusalem.
No. Israel has occupied all of the West Bank before. It did not go well and it will not go well now.
Two of the main differences between the Golan Heights and the West Bank are (a) the numbers and density of the Arab populations are very different, with the population in the Golan very small, and (b) the level and sophistication of Arab separatist political organization in the two areas is very different, with that organization in the Golan is minimal.
A better peace plan for the West Bank would be (a) an Israeli-Jordanian agreement on a division of the West Bank between them, (b) with that agreement folding the Jordanian section back into the formal territory of Jordan, and (c) that agreement extending the Israeli-Jordanian peace treaty terms to the portion of the West Bank re-annexed by Jordan.
The same sort of joint-agreement should be made between Israel and Egypt concerning Gaza.
With those two agreements, the politics of the West Bank and Gaza will come under the political control of Jordan and Egypt, with whom Israel already has peace treaties. It will be up to Jordan and Egypt to take down the political-gangster outfits known as Hamas and Fatah (Fatah is the main gangsters in the PLO).