As you mentioned, they'd have to add another women's sport to pull it off, so that would mean adding two new revenue negative sports. That's just not a winning pitch.
The other big obstacle would be conference affiliation. The Big 12 doesn't sponsor men's soccer so they'd have to split it off and find affiliate membership somewhere.
There was a movement before COVID to get the NCAA to reform some of its men's soccer restrictions. There were some good ideas on the table that could theoretically push it toward a revenue neutral sport like baseball. But, it lost steam.