Here's the translation based on the guidelines you provided:
At this moment, Li Fan was utterly immersed in his thoughts, unable to extricate himself.
It wasn't that he had forgotten the deadly crisis of Nameless True Immortal hunting him down.
But rather, if Li Fan managed to hum and haw his way to the Mystic Immortal Boat before Nameless True Immortal descended,
Then next, it was likely that He wouldn't come at all.
Merely a false alarm, with nothing actually happening.
When Li Fan slowly emerged from his contemplation, he felt little relief from surviving a disaster.
"The Power of the True Immortal, as if He were present Himself."
"Nameless Realm, I reckon, is even more terrifying."
"In the memory of that Lower Realm Immortal, he met my gaze but showed no reaction."
"Either, even Nameless True Immortal cannot perceive or detect the Hai Zhen inside me. Or..."
"The situation of the Nameless Fishing Immortal is likely dire indeed."