It's over and not over at the same time, if you know what I mean lol.
The conflict might not be over, but the war and actual fighting is drawing to an end.
People are exhausted. All sides are weak and exhausted right now. Nobody has the upper hand. All sides are dependent on world powers, such as Russia and America, for political and military support. Even the regional powers, such as Iran and Turkey, are dependent on Russia and America for any moves they make on the ground.
So it's both over and not over at the same time. Tensions will continue, no doubt, but don't expect the fighting to intensify. Peak fighting is over. It'll be just like the situation in Somalia, Cyprus and Nagorno-Karabakh.
What you're describing is basically the fragmentation of Iraq and Syria. It may not be an official fragmentation, but it'll be de facto.
Iraqi Kurdistan will declare independence, which nobody will recognize, and then unofficially annex northeastern Syria via the Rojava Peshmerga.
The Shias of Iraq will be too exhausted to go to war with the Kurds, especially if they see that there aren't enough Kurds who are willing to side with the PKK instead of the Peshmerga. Baghdad will continue to act like it has power over Iraqi Kurdistan, but in reality it won't.
Iraqis in general are sick of the Kurdish issue and couldn't care less anyway.
The Turks will also unofficially carve a Turkmen region out of northwestern Syria, which Damascus will lay claim to but won't be able to enter.
The Druze area in southern Syria will increasingly fall into Jordan's economic and political orbit, but it'll still officially be aligned with Damascus.
The Russians will increase their cultural influence and presence in the Alawite coastal region, which is what they primarily cared about since day one.
Israel will be the biggest winner of course. Israel will continue to keep the Golan Heights and then focus on fighting ISIS militants in the Sinai Peninsula via their drones. They'll care less and less about respecting Egypt's sovereignty in that area.
So you'll end up with the same kinds of maps that the RAND Corporation and Wilson Center think tanks drew: