The Sassanids would be the only ones opposing the Arabs and since Khosrow II isn't overthrown by his army the civil war wouldn't happen, that combined with the fact that the last 6 years of the war, which were the most destructive for the Sassanids, don't happen would mean that the Arabs do little to no progress.
However such a peace deal is very unlikely, as long as there's any hope of gaining the territories back they won't accept such a peace deal and the Sassanids cannot defeat the Romans as long as they haven't conquered Constantinople which is almost impossible.