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They could perhaps eventually get their own separate federal unit within A-H. It would likely consist of Serbia, Bosnia, and perhaps Dalmatia. Maybe Montenegro will also want to join A-H sooner or later in such a scenario.

I know that Russia would stay out if A-H invaded Serbia in 1904-1905, but what about in 1903? It was less weak and distracted back then. (Russia didn't stay out of it in 1914 in real life, when it was stronger.) And would imposing a puppet regime or directly annexing Serbia be more likely for...

Well, when Serbia was occupied during World War I, there was no large-scale terrorism against CP troops there. Why not?

Also, there is another option here: Specifically having A-H directly annex Serbia. It could be jointly governed by Vienna and Budapest similar to Bosnia.

What about some Obernovic cousins, if necessary, distant ones?

Also, what exactly stopped Austria-Hungary from doing this? In hindsight, this seems like it would have been an extraordinarily smart move on their part. Do this in 1904-1905 when Russia is weak and distracted elsewhere so that it won't have to subsequently do this in 1914 when Russia can...

Where exactly did someone else say this?

What if Austria-Hungary imposes regime change in Serbia in 1904-1905 while Russia is busy fighting Japan in the Far East? The logic behind this is quite simple: The Obernovic dynasty in Serbia was pro-A-H while the new Karadordevic dynasty in Serbia was pro-Russian and pro-French. So, A-H will...