I have dealt with many tail tip injuries in my Irish Wolfhounds over the years, as they have very long tails and can generate much velocity. It can look like a slaughterhouse when one has opened up a tail tip, blood everywhere. They can be a long time and frustrating to heal, but so far, knock on wood, I have not had to amputate a tail, though it is not uncommon for IW owners to resort to this.
The goal in getting a tail to heal is to provide protection for the tail while also providing enough air circulation for the wound to heal and not allow it to be reinjured. I have had luck with using foam pipe insulation, open at the bottom and extending past the tail tip. IWs have a little more hair on their tail, so it is a little easier to tape the foam to the hair on the tail, a little more challenging when you are dealing with a short-coated dog. You must be careful to not wrap anything so tightly you cut off the circulation and kill the tissue. You can also try a plastic bottle with holes drilled into it, or a pool noodle. You can use sugar on the open wound, or whatever your favorite concoction is. As long as the air can get to it and you can examine and treat it daily, many different surface treatments work.
Another approach is the tail sling. Instructions on making one are here: https://www.iwclubofamerica.org/tail-sling
You must unhitch it when the dog eliminates so it is a little more high maintenance.
You must not not allow the tail to whack anything and open up again while it is healing, or you will be back to Square One. It can be very frustrating. You must not allow the dog to greet people in areas where the tail can hit furniture or walls. Teaching a sit for greeting can help. You will become very conscious of where your dogās hindquarters are and quick to grab the tail or move to avert potential disaster.
If the dog tends to want to chew it, you have to prevent that. Various nasty things on the bandage or pipe insulation may help, but some dogs need to wear a muzzle., at least at times. A cone might work for a dog with a shorter tail than a wolfhoundās.
It does take time, perhaps months. I continue the treatment longer than one might think, as the new skin is still pretty fragile. You must wait until you have healthy hair covering the site.
If you do not mind the appearance of a docked tail, or one that has been amputated well above the tip, and it is not a show dog, I hate to say it but it may be easier all around to just go ahead and have it amputated. They usually do heal up pretty quickly and it may not be worth it to you to devote all the effort and time to try to avoid doing it.