Why a British-Austro-Hungarian battle is a fleet problem

If Italy joined the Central Powers in 1915 and Britain cancelled Gallipoli, could Queen Elizabeth and two battlecruisers defeat four Austro-Hungarian dreadnoughts?

The British likely hold the advantage because their whole fleet, including older battleships and cruisers, would reinforce the modern ships.

The scenario has France and Italy occupying each other while Britain faces the Austro-Hungarian fleet. Queen Elizabeth and two battlecruisers would be only part of the British force. Lord Nelson and other pre-dreadnoughts would also contribute, while reinforcement could bring Town-class cruisers. Queen Elizabeth's guns and properly handled battlecruisers would already be dangerous to the Austrians. The British advantage is therefore assessed through the full fleet and available reinforcements.