My first response was also to pass in front of P1 - With the extra speed it even seemed more feasible.
However - when I remembered we are all in "patchy" fog
and navigating by radar
I got a little sweaty. Cross in front of a super tanker out of control and doing 22 knots - yikes!
It is also very tempting to start thinking about what the scene looks like in 30 seconds. Speculating on what P1 might or might not fix and what OT1 & 2 will do or not do.
12 minutes is a fair amount of time. 1 minute is a good reaction time for everyone. I'd still throw out the anchor
and evaluate in 1 minute.
While I certainly agree with Pelagic that you can complete a 180 turn inside OT2, it's very interesting that DOT thinks an about turn is the best answer.
Imagine you are listening to the radio
and you discover that a semi-trailer full of electronics gear
has been stolen in front of a Best buy store. It is being pursued down I-10 by the highway patrol - the thing is the rig entered the freeway on the wrong side, is traveling at 65 mph and is 2 miles ahead of you.
I don't think a u-turn is in your menu of options - Pull over and jump over the guard rail seems about right - LOL.