Well it's certainly an idea, but what's stopping these cheaters from making a new account to play on?
The whole issue regarding cheaters is because this is a F2P game, players simply make a new account after they've been banned.
From what I understand, there are measures in place to prevent users from doing so, but with the current technology available, it's not really possible to enforce this properly, so these measures are usually quite easily circumvented.
So if anyone were to get banned, they could just go onto another account, so nothing is holding them back.
Personally, if someone decides to cheat, I think that it would be best to just keep them banned.
You are offering an unban in exchange for money, which means they'd just get an exemption from their rule breaking behaviour.
This practice may undermine the company's integrity and commitment to enforcing its rules, which could do more harm to their reputation than it would do good.
There are some more factors to why this might not work out so well, most likely not appropriate to talk about on here, but there are likely many reasons to why this could be problematic for the game.
In my opinion, making this game "paid" could resolve a lot of the cheating issues.
Some form of prime status (as in CS:GO/CS2) could be implemented.
Players pay a one-time free of 10 bucks to get access to a special queue with other players that have paid this fee.
This adds a paywall for cheaters, which could decrease the frequency of these players encountering them, whilst also making a good buck!
Though this system also has it's own share of issues, so I wouldn't vouch too much for it.
But coming back to the main point, I don't think account actions should ever really clash with anything related to money.