However, lets reverse the situation:
Hood and Bismarck (RN force with Holland on Hood) engage PoW and Prinz Eugen (KM Force with Lutjens on PoW). Bismarck's radar is inoperative and her last turret was accepted from the contractors on April 27 1941.
Hood fires at PE as per the historical situation. Bismarck scores 3 hits on PoW - one forward at the WL, one amidships under the WL, and one through a boat that does no apparent damage. The hit forward would probably cause some flooding (but no loss of fuel), the hit amidships would probably strike the main belt and do very little damage as well.
Hood blows up at ~0600. Bismarck is immediately taken under fire by PoW and PE, while Bismarck's gunners hampered by the violent manoeuvres to avoid Hood lose their FC solution. Lindeman is now faced with taking on two obviously efficient opponents that have suffered no apparent damage, and Bismarck is hit by 7 14in and 20cm rounds in two minutes. What does Lindeman do?
I find this scenario difficult to understand.
Firstly why would Hood blow up? Yes it can happen from a 14 inch shell from POW but the chances of that happening in this scenario is far less than in the actual DS battle. I think from the detail here it is far more likely that it is Prinz Eugen that blows up from a direct hit from Hood.
Secondly POW, even worked up fully is highly unlikely to score 7 14 inch hits inside two minutes? The Hood Bismarck combination I doubt would be operating as one firing unit as Holland did, so when POW has to shift fire it isn't as straightforward as you imply..
Coming back to the scenario posed directly, with my second point caveat,if Hood blows up and Bismarck is left to fight it out with POW and Prinz Eugen my money would be on Bismarck. If I was Lindemann (with no order constraints like ''no unnescerry risks'' that bedevilled the KM) I would concentrate all fire on Prinz Eugen with the express purpose of quickly blowing that ship out of the water. Then I would switch all fire to POW. It is likely that Bismarck would take substantial hits from POW during such a period, but not enough damage to seriously imperil Bismarck.
Such an action would be long drawn out, probably about two hours, so the period immediately after Hood blowing up becomes totally insignificant.
''Give me a Ping and one Ping only'' - Sean Connery.