I think this is a good reading of what's going on. He's bought himself time with the police investigation -- and in that time he'll appease his party by delaying tax rises, eliminating covid restrictions if possible and maybe capping fuel price rises. And he'll soon be seen to be working hard to control inflation and to get levelling up done, which will restore confidence from the electorate. By the time the police report is published, the drama will have lost its edge.
He's got a lot going for him at the moment IMO -- the economy is growing, omicron looks good, Brexit hasn't caused any catastrophes, he's managed the health crisis brilliantly since January 2021, Starmer, Truss and Sunak all lack charisma. Partygate leaves a bad taste in everyone's mouth but it will be washed away if house prices and wages rise, inflation is controlled, and he's seen to aggressively manage immigration.