Things have changed for the Dutch since I last took up pen (if you will) describing their chances. A bit of a recap is probably in order here.
The Dutch started out with their historical OOB of (very) light cruisers and copies of the British Ambuscade destroyers. They then had two capital ship what if options, a rebuilt Tiger and the Project 1047 Scharnhorst knockoffs battle cruisers or a combo thereof.
Since then at least two further capital ship options have been added. The Mackensen class battle cruisers armed (or rearmed) with the British 13.5" and the proposed (but never built) improved Deutschland class pocket battleships.
I want to give kudos here to Jim O'Neil for coming up with both of these options and Dave Franklin for having the flexibility to allow them their place. A disclaimer here. This is my opinion and does not necessarily reflect anyone else's POV on these matters.
My past advice on the Koninklijke Marine Far East Fleet (or Squadron as you will) without a capital ship option was to transfer on GT2 to Surabaya and combine with the Americans and that stands as I see it.
But, with a capital ship option the Dutch become a force able to stand on its own. All of the Dutch capital ship options are excellent cruiser killers. But they also generate Japanese capital ship OOB responses and the Dutch capital ships vary in their ability to deal with Japanese capital ships.
A lot of what your operational chances are affected quite a bit by whether the British have also taken a capital ship option. I say that because when there are multiple Allied sweeps in contact in the same tier and area the Allies get to choose (by rule) which one engages first. This would allow the PoW and Repulse to try and eliminate the Fusos and then have the Dutch capital ships come in behind to to clean up. That combination IMHO represents the Allies best chance to win in the WAF outright. Of course Japanese LBA will have something to say about that.
If you choose to leave the Brits to handle the WAF on their own then transferring the Dutch to Surabaya on GT2 is still a good idea. This will allow you to use the American CD on GT3 to sortie and it will allow you to sortie in the Eastern Axis. There you can use the Allied who goes first option to send the Dutch in to try and clear out the Kongos. That will allow the ANZACs to come in behind and clean up there. Again, there is a good chance that Japanese LBA will have some say in this.
None of the Dutch capital ship options want to take on the Fuso class first. If PoW is present let her try and at least beat the Fuso class down a bit. Your capital ships shoot better but the Fuso classes' BB armor and 6 D12s each is hard to get past with BC/CA armor.
Your Dutch capital ships are looking to take on the Japanese heavy cruisers and make as many as possible go away (with drawn for repair works here). Remember, the Japanese bats go away when your bats do, but their cruiser remain.