It's interesting that the AI answer is that the ref could've given a red, yellow or no card in this situation, but I think you're correct here that it's either red or nothing (it's tough to find an exact official source on this). Regardless, was just looking at this discussion by a high level ref, who said the VAR guidance was misapplied in this case (showing stills and slow motion which "is not aligned with VAR protocols," making it more likely for the red to be called.
VAR review: VAR was uncomfortable with the replays that showed the Bosnian defender's right ankle buckle under contact from Balogun when both players were challenging for the ball. VAR believed Balogun was dangerous in his play and recommended the referee visit the pitchside monitor to review for a possible red card.
Verdict: Balogun can feel unfortunate to be red carded in this situation as, in my opinion, this was not a red card offense. With both players challenging for ball, the contact from Balogun on Muharemovic, while it looked bad in slow motion, was purely accidental and an unfortunate result from two players challenging for possession of the ball in a normal football movement.
VAR made their recommendation to the referee based on slow-motion and still replays, which is not aligned with VAR protocols, as these should be used for only point-of-contact purposes in a red card tackle situation. Once at the screen, however, it would have been a surprise if the referee did not send off Balogun considering the pictures he was presented by VAR.
https://www.espn.com/soccer/story/_...ly-red-carded-world-cup-vs-bosnia-herzegovina