step 1 - pass the law against hiring undocumented workers. Fine is $10K per worker. (Arbitrary...make it more, if you like.)
step 2 - give companies time to get their ducks in a row, e.g. sign-up with e-Verify (my company used that)
step 3 - any raid will almost certainly not find anyone because companies aren't going to want to pay the stiff fines

Not going to happen. There's no way to get a law on immigration through Congress anyway, so it stops at step one. And it's already against the law, with potentially steep consequences, to hire illegal workers today. Companies do it because the changes of workplace enforcement are so low, which means step three isn't going to have the effect you are looking for.

If MAGA isn't happy with that, then they're hypocrites. I know some on the far-left won't like it, but the "let everyone in" wing of the party is pretty small. The right should be thrilled. If they aren't, then they don't really want the problem fixed (which is what I suspect because of things like the Hyundai factory you mentioned, and the "pausing" of raids).

The obstacle isn't whether MAGA would be happy with it. It's whether the non-MAGA GOP and GOP-leaning independents would be happy with it, since MAGA alone isn't enough to win a majority (either the Presidency or Congress). And decimating the agriculture, construction, and hospitality sectors with aggressive workplace will be pretty unpopular with those constituencies. I'm sure the Steven Miller/Steve Bannon wing of the GOP would be delighted with draconian workplace enforcement, but the other parts of the party don't think it's worth the consequences.