I mean, personally, I like to think that in the DCEU, what happens after Peacemaker S1 is:
2022 - Peacemaker Presents: The Vigilante/Eagly Double Feature #1-5
2023 - Mortal Kombat 1
2023 - Justice League: Crisis on Infinite Earths: Part One
2023 - Justice League: Crisis on Infinite Earths: Part Two
2023 - Justice League: Crisis on Infinite Earths: Part Three
2026 - Guardians of the Galaxy vol. 3
Basically, I just assume that Mortal Kombat somehow eventually led to Smith and Eagly getting thrown through the Omniverse explaining their apparent cameos in unrelated films... or the MCU has its own door in the Quantum Unfolding Storage Area. I heavily doubt that's the case for a small cameo. Anyway, Peacemaker would be amalgamated into an unseen reality that presumably isn't the DCU and that's the end of his story.