It will return, and very soon. 100% sure.
They just need to turn it into something they can control through a local "broker" while maintaining some compatibility with the platform; 170 million users willing to be indoctrinated by government propaganda are hard to ignore.
It won't be anywhere near as popular as it was. The average user has the app "TikTok" and that's as far as they will ever go to get access.
The name will remain the same; most users probably won't even notice any difference.
It will be obvious when the feed will change and be alliged with the other actors.