Worried about constant high-speed pursuits? Increase jail time for repeat offenders. Add a way to revoke their driver's license (nobody wants to take that stupid test again). Start permanently impounding more cars after high-speed pursuits, and turn those cars into undercover police cars or auction them off like police departments actually do. Increase jail times for violent crimes, increase times for repeat offenders.
There are actual RP approaches to solving this problem instead of just telling people, "HEY CRIME IS ON TIMEOUT!" At the end of the day, it's still GTA V. People want to do stupid things. This would accomplish nothing except turning the server into a ghost town.