Germany, absent the need to try and win before large numbers of Americans arrive, does not do the Michael offensives, can shorten lines to prepared positions doing away with salients and maintain on the defensive on the Western Front. Absent the limited American support, and also the effects of the failed Michael offensive the Italians don't finally succeed at the 84th Battle of the Isonzo (or whatever number they get to) and the front there remains more or less as it has been and it may be a race to see who folds first, A-H or Italy. A-H no longer has the Eastern Front as a resource suck and threat and while it is still shambolic the static Balkans/Italy and lack of Russian threat may be enough to keep it together. The collapse of the Ottomans doesn't help - opening the Dardenelles to supply Russia no longer matters, and frankly the number of troops that can be redirected to the Western Front is limited as the Entente needs to maintain military/occupation forces to keep a lid on things with the Ottomans collapsing. Germany has all of the Brest-Litovsk territory to supply food and other materials and will be steadily increasing food supplies and other items from there.
Everybody is short of manpower, and the reality is that the iron and coal areas of France are still occupied by Germany as well as some agricultural areas. If the Americans are not in the war, the question is how long will they continue to finance the Entente, especially in light of the probability of a stalemate at best, meaning where will the UK, France, and others, get the money to repay the USA if they don't squeeze it out of Germany/A-H/Ottomans.
IMHO you may see Michael in reverse with the Entente trying to win on the Western Front before Germany can properly exploit eastern territorial gains. Like Michael, there may be gains but it will bleed out the remaining strength of the French and British armies. The net result being a negotiated peace. In the east and Balkans, Brest-Litovsk and the A-H gains (no Serbia) will stand, the Entente has no levers to change this. I expect the border between Italy and A-H remains more or less at the prewar level unless the Italians folded, in which case A-H may get some relatively small gains. In the west, I expect Germany will have to give up most of what it occupied in Belgium and France however I would expect some gains for Germany mostly small to adjust borders along some natural lines. I expect some of the European territorial give backs might be "purchased" by some of Germany's colonies being returned - overall expect the bulk of Germany's colonies to be lost to them but not all. The Ottomans pretty much meet the same fate as OTL, details of dismemberment may vary.
The war ends in 1919 or 1920 at the latest.