I’m not so sure. The purpose of the defensive weaponry is, well, defensive. Stopping civilian deaths.
With how things are now, I think it would only make things worse. Netanyahu isn’t going to pull back if the US stops giving defensive aid. And when civilians inevitably die, he’ll either shrug, or use it as further justification to continue.
In essence, it won’t have any effect. I think the best thing to do would be supporting Netanyahu’s opposition to launch a coup, with our support conditional on them withdrawing completely from Gaza and letting Palestinians form their own state.
Either way, there won’t be any progress until Netanyahu is out.