I am not sure how you "put the brakes on" apart from restricting learning opportunities and this I would never recommend. When our DD has had difficulty accessing learning at an appropriate level in Maths then a few things happen and none of them good. Frustration, disappointment, loss of interest, depression and then lack of self confidence and self efficacy. All of these things are difficult to deal with unless she feels as though she is progressing in her learning. And Maths is not her "passion" per se.
We have tried focussing on other areas when we haven't been able to advocate for better learning options....drama, music, languages. That's all well and good but does not make up for appropriate academic progress.
We tend to find that the confidence and self efficacy that comes from progressing in areas of interest or high achievement has a positive spill over it all areas of development so I would go with option two.
Just to alter the perspective.....if your child was a brilliant swimmer would you make them switch to running so they didn't get too far ahead of their peers?
