But part of this deal is that Israel relinquishes its role in the rest of the West Bank and allows it to be dominated by the PA.
No, it doesn’t. That is the great thing about this plan, that makes it different from every previous proposal. If Israel accepts it, it gets to apply Israeli law to a significant area now, unconditionally and permanently. In return all the Arabs get is a promise that if they come to their senses within the next four years, Israel will negotiate with them in good faith about a state for them. If they don’t agree to such negotiations within the next four years the deal is off, and Israel will be free to do whatever it likes with the remaining, still-administered territories.