The issue with the current HK government at the end of the day is that Carrie Lam is a second rate administrator and is wildly unqualified for handling the current situation in HK. Worse yet, she has one of the worst cabinets / teams ever assembled (you would need to be familiar with local HK politics to know this). In other words, HK couldn't have had a worse group to lead the city at this point in time.
Having said that, Carrie is completely reliant on the police force at this stage. There is no way she agrees to an independent inquiry or any major moves against the police. At least not right now.
I'd say that the independent inquriy may be something that can be compromised on at some point. But universal suffrage is out of the question, and demands 3 and 4 would never be accepted by the rest of Hong Kong nor would any reasonable person accept it given what has taken place since the original protests. In fact one of the key issues is that "the protest" isn't just one unified movement that has been moving forward since its inception.