Perhaps, if all the rest of the security council members and other countrises recognize it individually. You can veto a UN decision but not a sovereign country decision.

Recognition of a country does not require the security council, a general assembly vote is all that is needed. That said, the UN isn't exactly a body known for it's lawfullness or fidelity to procedure. When the UN General Secretary Ban Ki-moon rejected Taiwan's bid because of resolution 2758, there was no real legal basis for him to do that, but people just went along. Neither is there a "supreme court" of the UN that can settle these disputes, as the ICJ is intended to resolve disputes between two member nations, not disputes between the General Assembly and the Secretary General.

It's best to think of the UN as a meeting place where consensus can form, rather than as a law making body with a well functioning appeal and dispute resolution process for its own deliberations.

If done by a majority of countries, it would greatly reduce the military threat of China invading Taiwan, because it would imply that those countries would not ignore an invastion or only protest inconsequentially, which is what China can currently assume rather confidently.

Even the US has been very carefully not fully committing to a defense of Taiwan, giving China the impression (according to some reports) that they might get away with it if they just act quickly enough.

Of course, none of this affects non-military threats to TSMC's production, like earthquakes.

There's something to be said about going nuclear. For all that shit about proliferation, the ability of a small country to inflict drastically disproportionate damage to a larger country really cripples military offensives.

The Taiwan government would probably welcome some US military/naval bases.