“Under section 230 of the Communications Decency Act, tech firms have legal immunity from the majority of the content posted on their platforms (unlike ‘traditional’ media publications). This protection has empowered YouTube, Facebook, Twitter and Reddit to create spaces for free speech without the fear of legal action or its financial consequence.”
Censoring content is suspiciously like editorializing content, and steps social media a lot closer than they want to being publishers and not platforms.
Proceeding with censorship seems to carry the risk of losing immunity under Section 230.