I pondered on this scenario some time back, iirc if the scout that shadowed Cornwall and Dorsetshire would have flown another 10 miles on his course before turning back, he would have spotted Somerville. As a result of the rearmament muddle from the morning, Cardiv 5s B5Ns were ready to go at 14.00, but were stood down once the CAs were sunk by Egusa. Presumably at this time the B5Ns from Akagi, Hiryu, Soryu would have been ready too, plus the D3As from Shokaku and Zuikaku. So if the scout spots Somerville, oh boys he's in trouble.
The japanese would have available to launch something like 88 B5Ns and 32 D3As, probably in two waves, with a plentiful Zero escort. So the 2 RN CVs and Warspite are probably dead there and then. I don't know off the top of my head how close to Somervile was the R force (and also where was Hermes), but as the japanese found Somerville if they sniff around further they may find the Rs too, probably they will get attacked the next day. They can't run away from Nagumo's 30kt force. Any cripples, at least BBs, can be dispatched by the Kongos and CA/DDs with Nagumo, if Nagumo chose to let them do it.
KB will really cover itself in glory in such a scenario, but they will take significant losses. I never got the impression that RN's AA and fighter defences were as good as the USN at this stage of the war (which wasn't that brillian yet), the RN Fulmars and Hurricane and the Wildcats will be probably eaten alive by Zeros, leaving the AA to do what it can.
I guesstimate that if they attack both the CVs and the R force, they will probably lose something like 15-20 B5Ns and 10-15 D3As, plus say 6 Zeros to all causes, with others damaged and OOC temporarily. This may affect the upcoming Coral Sea and Midway, but haven't pondered yet how, one or the other maybe postponed possibly, or maybe not, KB could still gather enough planes for Shokaku and Zuikaku to go in SOPAC, while for Midway they really have to scrounge even harder but still imo doable (Junyo, Ryujo and Zuiho, even Zuikaku - assuming Coral Sea goes about the same- could be pilfered for planes/pilots, though possibly one of them is left home since there wouldn't be enough planes)
But boy imagine the shock in London after loosing 2-3 CVs and 2-3 or even more BBs plus smaller units in two days.