Could Bismarck, Tirpitz, and Graf Zeppelin overwhelm two older British battleships and their escorts in the Atlantic?
Short answerThey could beat that isolated force, but the Royal Navy would not knowingly accept such an encounter; it would combine larger hunting groups and divert convoys rather than meet a concentrated enemy piecemeal.
NotesMoving several German capital ships would create intelligence and radio indicators too large to hide. Britain would recall battleships and battlecruisers from convoy duty, add carriers and cruisers, and assemble multiple mutually supporting groups. Threatened convoys could disperse to defended ports while the fleet sought a decisive battle. Once contact occurred, British ships would try to eliminate the weakest German unit first so that increasing numerical superiority could be applied against each remaining opponent.