(You probably meant to say that the holding was by Georgia)
Going by the short sequence available on Youtube (which doesn't include the penalty announcement), if the UNS foul was against Texas, then yes, there is no reason to decline the UNS, and I even wouldn't give an option to decline. If the UNS was against Georgia, then the two DB fouls should have canceled.
Did the targeting call get upheld by replay? From the replays I saw there was no leading with the helmet nor forcible contact to the head/neck area (although it did look like there was on the first full speed view). Should have been reversed to a simple late hit (the QB had obviously started the slide when the defender committed to the tackle).