I'm sure China is watching this very eagerly and taking notes. Fate of Taiwan depends on how the West and the rest of the World reacts against Russia.
Who knows, I certainly don't. Except, I believe that Taiwan is much more important to the rest of the World than Ukraine, (no disrespect intended towards Ukraine). Also, Taiwan has been preparing for this longer and not sure but it seems they have better equipped and prepared military. Then there's the matter of about 100 miles of Taiwan Strait between them..
China is very happy with the Russian invasion of Ukraine. But they will not subordinate their long-term strategy on Taiwan to Russian goals; Xi will stick to "slowly slowly catchee monkey". He is not a military opportunist, as Putin has shown himself to be.