Would Bismarck have sailed if all five King George Vs were operational?
Short answerProbably not in this counterfactual: Britain could cover the Atlantic approaches with a much stronger fast force.
NotesIf all five King George Vs were operational, Britain could combine them with Renown while sending Hood and Repulse for refits. Accelerating a Lion rather than pausing construction could strengthen the force further. Bismarck would then face a very different opposition from the historical interception force. Under those assumptions, a sortie is judged unlikely because the risk of meeting a Lion would be especially severe.