Before WWII, and in the early stages when they expected a quick victory, most Nazi plans to deal with the 'Jewish problem' involved deporting the Jewish population out of Europe. The main obstacle to this schemes before the war was that no country wanted to absorb millions of Jewish refugees. Even then these plans were put on hold and replaced by ghettoization and eventually the Holocaust only after they realized that with no imminent victory against Britain on the horizon, Germany would have no ability to move the Jews out of Europe.
If for whatever reason (Halifax being elected, more successful German offensives, etc.) Britain had bowed out of WWII in 1940 or early 1941, could that mean that these plans could still go forward? Perhaps as part of whatever treaty stopped the war Britain could agree to let the Jewish populations of Nazi controlled territory settle in their empire, thus allowing the Nazis to confiscate their property and ship them out to be someone else's Jewish problem. Not exactly a picnic for the Jews of Europe, but still a lot better than OTL.