How would disguised surface raiders develop?

How would disguised merchant cruisers and surface raiders develop in this timeline?

Much as they did historically: long-range merchant hulls with hidden weapons, used to divert enemy resources rather than win fleet battles.

Hilfskreuzer-style raiders would develop much as they did historically. Designers choose merchant hulls with enough speed and range, then conceal as many useful weapons and support systems as possible. These vessels are an offset strategy comparable to privateering: they threaten trade and force a stronger navy to organize convoys and hunts. Their strategic value lies in tying down enemy ships, not in surviving against modern cruisers or defeating the main fleet.