It's a rather hackneyed comparison to make, but if Trump ran third party, the electoral map (and popular vote) would resemble 1912. Trump would win a bulk of the deep Republican states (WV, AL, WY, etc.) and the mainstream Republican would be lucky to win maybe UT (like Taft in 1912). It's hard for me to imagine them winning any other state. Trump would probably get about a third of the vote and the Republican one fourth. The Dem would, in all likelihood, win just about every other state and the remainder of the popular vote.
Basically this. AOC could be a good Debs analogue, but I don’t see her doing it unless Biden really screws up. I don’t think she’d run against Harris.
I don't think anyone credible will ever run third-party on the left any time soon. Being a spoiler completely destroys their reputations and any shot at a future in politics.