If the war continues until Russia wins simply because they annexed regions, then surely the next step is to annex a few more regions for fun and profit.
Georgia and Moldova seem more obvious, but there is a reason that in the current wave of Russian aggression Sweden and Finland applied to join NATO and the Baltic republics and other countries of NATO’s eastern flank have been among the most assertive about the need to support Ukraine; there are lots of obvious targets if the US isn’t willing to assist Russia’s neighbors in resisting aggression.