I can just imagine Army Group Centre disintigrating in the -50 weather and being chasedby a vengeful Red Army and an even more vengeful NKVD all the way back to Berlin.Could we see the German Army chased into France in 1942 and all of Europe except the UK and the Swiss falling to the Soviets? With no nukes until 1945 and no Army in the West the US can't stop the Red Army.
Well, that's certainly the opposite of the tendency to have the Germans do better in any eastern front scenario.
I've toyed with the idea of a smashing Soviet victory in winter 1941, and it sort of works, but it doesn't lead to them winning the war in 1942. Reasons: (1) While the Soviets were improving rapidly, they didn't have the depth of logistics capability, training, or organization to just keep on going. At some point they were going to have to stop, which gives the Germans time to build a line. Take the biggest of their victories in 1944 and look at far they were able to advance. Now subtract some amount for the fact that their mobility was mostly horse-drawn in 1941-42 and mostly truck-borne in 1944-45. That's the extent of their initial advance. (2) While the Germans didn't have immediate reserves on the eastern front, given a major enough threat, as in the German heartland being in danger, they would have certainly moved units from France, North Africa, the Balkans, and Norway. Now granted, those units weren't of great quality, but they would be fighting Red Army units at the end of their rope, exhausted, at the end of a fragile supply line some number of hundreds of miles from their source of supply. The further the Red Army advances, the longer those supply lines are. (3) The front narrows as the line gets further west.
None of that is to say that the Soviets couldn't advance. It's just that they weren't going to advance further and faster in 1941/42 than they did in 1944/45. They would probably still be inside the Sept 1939 borders of the Soviet Union at the end of 1942. That's a lot better than they did historically in that period, but not 'Soviets reach France by 1942' good.
The Western Allies would react to a crushing Soviet victory and major advances. Lend Lease wouldn't officially go away, but in reality the Soviets would get nothing because the Western Allies would have no intention of facilitating a Sovietization of Europe. The West would also write off the war against Japan in favor of pouring anything they would have sent to the Pacific to Europe, with the idea of getting boots on the ground in France as quickly as possible. By Soviet/German standards that wouldn't be a lot of men or material, but by the standards of the Western Allies in early 1942 it was quite a bit.
British and US weapons that historically went to the Soviets would be used to build up forces of the western allies more quickly. Western shipping historically used for convoys to the Soviets would also go to that build-up.
With the Western allies not an immediate threat and the Soviets definitely threatening, the Germans would give defense against the Soviets even more of a priority than they did historically. U-boats get less priority. Tanks get more.
My guess: War ends in early 1944 with the Western Allies/Vichy French and the Soviets meeting somewhere in Germany. Rationale: The better the Soviets do, the more German power is drawn east, which makes the western Allies task easier. The timing can differ, but the outcome in terms of where the Western Allies and the Soviets meet is difficult to realistically change much.
What happens in the Pacific in this scenario is actually a bit more interesting. The Soviets would probably let the west and Japan bleed a bit, and then jump in sometime in early 1945. If the war in Europe ends in early 1944 but the Pacific War goes into mid-1945, which it probably would, the European colonial powers would probably end up with more power on the ground in their former colonies when the war ended. That probably doesn't stop the end of European colonization, but may make it bloodier.
There would be an impact on the Chinese civil war. The Nationalists would get less support than they got in 1942-early 1944 (which was minimal anyway) but would probably get more in 1944-45, which makes the inevitable Chinese civil war more bloody.