^What withholds^ is not specified here though it no doubt was when Paul ministered in person at Thessalonica.

The ^he^ and ^his^ are not associated with a particular being in this passage.

I rather think that `what withholds` is Michael, the archangel Dan 10:13,20,21 Dan 12:1.
There are many who believe it is the church.
While yet others believe that it is the HolySpirit.

The fact that there are Christians on the earth at the time of Jesus` return counters the supposition that the church is withholding.

The fact that the HolySpirit is in the body of believers who are still on earth at the return counters the supposition that the HolySpirit is withholding.

The ^man of sin^, the beast, is to whom the ^he^ and ^his^ refer.