If it happens, Arm will have only themselves to blame. Suing your own customers is not the smartest move.
Now they're getting counter sued by Qualcomm because it turns out they allegedly violated their own TLA (license to get off the shelf cores) and their ALA (architecture license).
Qualcomm is claiming that Arm is refusing to license the v10 architecture to them and refused to license some other TLA cores requiring them to get the Nuvia Custom CPU team to build cores for those products instead.
This explains their expansion into Risc-V it's a hedge against Arm interfering with QC's business.
It'll turn out OK. They'll just be acquired by Apple, who will continue putting out the most powerful CPUs on the market with AArch64 architecture.
Qualcomm acquired Nuvia in order to bypass the licence fees charged by ARM, with I can guess ARM tried to block in good terms first, and latter in bad terms without success as we saw. It may make sense now that ARM is refusing to license them the newer ones.
Qualcomm may be solely to blame themselves, as they now has to invest in researching and developing an underdeveloped architecture, quickly, while their competitors -including Chinese ones- take advantage with newer ARM designs (and perhaps they could even develop their own alternatives peacefully in the meantime).