I'd say that satellite in this context would mean the concession of some monopolies to the French, and having as foreign policy to follow France.
It's extremely unlikely that the US would have conceded to any treaty which would give the French control of their trade. It would provoke widespread discontent and outrage, much more than giving them control of foreign policy would.
Anyway, thinking about it, I can't think of any situation where it would be possible for this to occur during or shortly after the war period.
-If the British had already withdrawn from trying to retake the colonies and France tried to insist on a treaty that would subordinate the US to France, the US would just tell them to get lost.
-If France tried to insist upon such a treaty during the thick of the war, the US would either break off its alliance and try to fight Britain alone, or would accept and collapse for the aforementioned reasons in previous posts. The winner here would undoubtedly be Britain.
In the end the problem here is that I'm damned sure that any attempt to make the US subordinate to France during the war would result in a wave of outrage and rejection of it in the US. Even if that would mean losing the war. Nations aren't always entirely rational. Another thing to keep in mind is that during the ARW, American leaders hoped to make alliances with other countries
in addition to France. While this eventually happened, Spain, with it's own colonies to worry about, only joined due to their alliance with the French, and the Dutch Republic joined the war late and was beaten at sea horribly by the British. So it wouldn't really pan out, but American leaders wouldn't know that ahead of time.