To let him do the mistake or removing him from the control is not an option. This will only exaggerate the situation.
Actually they are options, which is why they were suggested.
The First officer is only in control under the Captains supervision. You need to remember that in the air moving at anywhere between 130 and 300 knots you need to carefully plan ahead and when the plan changes for whatever reason it is incumbent on the aircraft commander to take the necessary action to rectify the situation. In some cases this may well involve abandoning the approach and starting again. Your suggestion that "this is not an option" belies a lack of experience in this regard.
I think you should talk to your FO on the ground, first explain to him that this is not a criticism on his flying, but inform him that you are a team, and that you as captain don’t feel comfortable or safe with this behavior. If he does not realize the problem, you have to take this higher, talk to the chief pilot.
Yes indeed, but that is as you say
on the ground. The posters problem was concerning what was happening in the air. It is relevant that much more timely and positive action is likely to be required. It is quite unusual to find F/O's who are not receptive to corrective suggestions and input, as I am sure the author of this thread would readily acknowledge. However the problem related with what to do with an individual who was less receptive. In this case the Captain must decide on a course of action that they deem appropriate.