* control devices -- if TikTok can take over devices, that's a sandbox problem, but I am suspicious about the accuracy of this claim
* influence users -- here's the rub. The USG is worried about having social media that is owned by a rival power influencing public opinion? The assumption behind this is that all forms of media consumed by Americans must be under US government control or approval (say an allied nation). Moreover, if you accept that this is a national security threat, how are other countries supposed to treat US properties like Facebook? Or USG efforts like Voice of America, National Endowment for Democracy, etc? This is a recipe for total information control based on blocs, with Great Firewalls separating each bloc, and no citizen able to access any social media platform unless it's owned by a friendly government in your own bloc.
Are the above two arguments the only ones? If there is a different reason why TikTok is a national security threat, I'd like to know, because all I see are short videos of old people dancing, young people yelling in their cars, and cat videos. None of that seems like a national security concern to me.