If they did that, I hope they would coordinate the timing with America first. It would be American forces, not so much the EU, that would be helping Taiwan defend against the invasion that would probably follow.
That count is a bit deceptive, France has a single aircraft carrier with fixed-wing aircraft, the Charles de Gaulle. The other three are Mistral-class amphibious assault ships with helicopters.
The recent conflict in Nagorno-Karabakh proved that the future is here, and no large asset is safe from drones. Even if carriers could deny airspace to cheap tiny airborne loitering munitions (they can't), they have no hope against the submarine variety.
Spending more doesn't mean much if you don't spend it on something worthwhile. Not to mention that the European countries don't count money spent on healthcare, education, etc for veterans as part of the military budget.
The US is definitely overspending for no real benefit, except lining the pockets of defense contractors(and by that, politicians pockets)
On the other hand, we don't really have any business being there. So why would we. We're not the world police.
In the EU we view the "Department of Defense" as a tool for actual defense. Not for invading the middle east for corporate benefit. We've been dragged into this several times by the US in the last decades and it's always been a huge failure and has sometimes led to worse threats (ISIS for example which was much more of a threat to us than Saddam Hussein was)
A land war against China is not winnable anyway. I do think we should help Taiwan if it comes to it. But this should just come down to strategic deterrents. There's no point sending armies. By the time they get there it's too late anyway.
Our main threat right now is mainly Russia. And mainly so because they view us as enemies. But having entire tank brigades like in the cold war won't do us any good. This is not how the next war will be fought.
To be clear, I'm not faulting the EU for it. The EU should be concerned more with their own security, particularly if America gets tied up with China and is consequently less capable of helping to defend the EU against Russia.
So more than that I'd hope EU can then put its squabbling aside and respong in unison to any military provocation as well.