Originally posted by Carolus Rex
Let them form and then annex them asap. 
It ends in about 1600 or so.
Does that work? I had read in previous posts that unless you allowed them to keep their capital, the annexed provinces would return to their enormous revolt risks.
And to elaborate:
The Netherlands can form at any time that the rebels control the three key provinces of Zeeland, Holland, and the Hague. Other provinces, like Friesen and Flanders may go along if they have also been captured.
The usual way I handle the revolts is to station big armies nearby but not in the revolting provinces. I let them take the three core provinces as quickly as possible while trying to deny (or recapture) the noncore provinces (especially Flanders). As soon as the Netherlands forms, they are at war with me, so I can take back everything but their capital. This does always cause an end to the revolts, and leaves a much weakened one-province Netherlands that I can beat on periodically to strip away colonies and TPs. (Until they get another full province, capturing their capital will give me 7 stars, allowing me to choose in peace talks any three of their colonies/TPs I may have captured...)
Supposedly if you manage to convert one of the revolting provinces to another religion, that province will stop revolting (but it takes a long period of bloody revolts to get to that point, so I've never tested it myself).