Most of the ships involved at Jutland on the RM side would be of little use in the ASW role, and I'm not sure that the RN would be able to switch naval construction plans underway in a meaningful to produce more ASW vessels if the HSF was neutered. To the extent resources went to the HSF after Jutland OTL they could be diverted to U-boats, or the army. I could see heavy guns taken off damaged capital ships especially and mounted as RR guns as one example. Certainly manpower could be directed to land usage, even things as simply as former sailors manning the "new" RR guns. However, the net effect is probably minimal. The Germans will still end up having submarine warfare as OTL and bring the USA in, the Entente will still have a blockade which is quite effective. The Germans winning big at Jutland can make butterflies, the British not really. IMHO the major effect would be on how Germany perceives naval warfare when it rearms in the 1930s - more emphasis on U-boats, vessels designed for guerre de course, etc and few if any of the capital ships.