Buying time for a build-up.
I think that if Russia/Putin agree to peace talks, they will stick very hard to the no-NATO and non defense demands.
If they do, it tells me they realized they weren’t ready to deal with a full Ukraine invasion this time, but they know what they need for the next move, in say, 5 years, and they’ll work hard on their tech.build up, including getting support from their current supplier axis.
That’s why Ukraine can’t agree to a ceasefire now as it just gives Putin time yo build up weapons