Under normal circumstances it's hard to see a young manager of a good PL team wanting to leave to manage England.
But if Howe thinks he's likely to be sacked this season or in the summer, then it makes sense for him to get in front of it and take the England job now. Then he'd have a guaranteed job through the summer of 2026 and unless 2026 is a disaster, likely the summer of 2028 at which point he can see what's available. If he stays at Newcastle and does get sacked, it may be hard to find something comparable.
But in any case I think the fee the PIF would want for Howe would be too high for the FA anyway.