[JFP in PA]

In a word, yes.

The problem is that there is no way to get the IMS re-centered with the engine in its current state, and extreme caution is needed to prevent worsening an already bad situation. For instance, under no circumstances can the engine be rotated in its current state.

To have any hope of re-centering the IMS, you are going to need to release the tension on the chains, which will significantly increase the probability of the engine jumping time, if it has not done so already. That will require releasing the tensioners.

I have only seen this situation twice in my entire career, neither time worked out particularly well, both ended up with the engine being pulled and retimed on a stand, and even then one had other associated damage that had to be repaired.