The US at least is publicly announcing deploying a missile sub to the area. Tomahawk missile strikes are a favored US tool in these instances.
U.S. Defense Secretary Lloyd Austin has ordered the deployment of a guided missile submarine to the Middle East, the Pentagon said on Sunday, as the region braces for possible attacks by Iran and its allies after the killing of senior members of Hamas and Hezbollah.
While the USS Georgia, a nuclear-powered submarine, was already in the Mediterranean Sea in July, according to a U.S. military post on social media, it was a rare move to publicly announce the deployment of a submarine.
Presumably, until Western politicians state otherwise, the "offer" is likely more a reminder of what risks befalling Iran if it goes too far. (A mostly-symbolic retaliation that allowed Iran to save face without hurting Israel much would likely be strongly denounced. And ignored in practice - this is what has happened in the recent months).
Gunboat diplomacy, 2020s-style.
One problem with dealing with Iran is that the West is quickly running out of non-military sticks and Iran doesn't trust their carrots all that much either after the JCPOA withdrawal. In an election year, doubt Biden would be willing to stick his neck out by going on the record in conceding anything much.