So far, I can't turn up anything that indicates the AZ legislators would be able to allow the state to certify the election without all of the counties submitting their certified results.
What seems to be more likely is that the state (Hobbs' office) would take legal action against the counties that refuse to certify. This happened in my state (NM) when a little red county balked at certifying the primaries. They had concerns about machine voting, and corrupt voter registration rolls. In the end, the county commissioners certified, because they were facing arrests and jail, and a lawsuit against the county (which didn't sit well with all the county residents.)
Right now only two AZ counties are delaying their certification. Cochise is officially asking Hobbs to address the fact that the companies used to certify voting machines (in many states) let their accreditation lapse with the federal government. Mohave is admitting they're delaying simply to make a political statement, because some board members say what happened in Maricopa disenfranchises all state voters.
Legally the county boards don't have the right to overturn the results of any county election. It looks like state law says they have to certify the results. They'd be unlikely to win in court, so I think these counties will eventually certify just in time to avoid real legal hassles. But they're going to push the time frame as much as possible, to register their unhappiness with the mess in AZ.