Go ahead and try to locate the task force via visual contact. Depending on the weather, you should be okay if you send off the report and then quickly submerge. Then, you can either sneak away or attempt to engage the task force before help arrives.
One word of caution, though. I believe that sending a radio report increases the chances that you will be detected--by how much, I'm not sure. So, be sure to listen on the hydrophone for any reports of warships heading in your direction at high speed.

If so, RUN FOR COVER!!!