To address the original question, I think that Thursday’s meeting between Biden and Putin - at Putin’s request - made it clear he plans to invade.
The Whitehouse is saying that Putin stated that imposition of severe sanctions in the event of war would be a colossal mistake. He is trying to ‘scare off’ the US. However, Putin states publicly that he has no intention of moving on Ukraine. That being the case, why would he want to warn the US of the penalty it would impose for an invasion, if he has no intention of doing so?
He knows he will invade, and is trying to scare the US into backing off.