Because Bismarck didn’t have that capability after the battle and it’s arguable that the ship ever did.
If you read ‘Battleship Bismarck a Survivors story’ by Burkard Freiherr von Müllenheim-Rechberg, specifically page 115 IIR it will all become clear.
The author was Bismarck’s 4th gunnery officer and highest ranking survivor. Bismarck was hit 3 times in the battle by 14” shells from POW . 2 of these damaged the hull just at and deep below the waterline. Flooding several compartments at the bow, including the oil transfer manifold, inline with the bridge, puncturing the oil tank, torpedo bulkhead and flooding a generator room, progressing flooding also entered a boiler room that was abandoned. The crew flooded more compartments on the opposite side of the damage to correct the ships trim as a list had developed that caused the tip of one propeller to be out of the water, (9 degree list developed, Bismarck was 2m down at the bow) oil was leaking from several ruptured tanks and Bismarck hadn’t fully topped up in Norway, so was short of fuel and high speed burns up lots of fuel.
HMS Prince of Wales was capable of 28.5k both before and after the battle. Bismarck was never again capable of this speed and an attempt at 27k when Prinz Eugen detatched caused the above mentioned boiler room to flood, further reducing speed.
Admiral Lutjens must of known this if his 4th gunnery officer did and concluded that a long chase short of oil would be pointless, dangerous and against his orders.
The Royal Navy could afford the loss of Battleships but the Kriegsmarine could not.
Source: Allan Southern (Quora)
