This could be my game plan.
Buying 1 sub, 1 des, 1 ac.
The sz 111-strafe (with 2 sub, 1 bs, 1 fig, 1 tac) retreating Bismarck and hopefully also a sub to 112 seems like a pretty darn good move.
Killing off sz 110 with 2 subs and all remaining available air (3 fig, 3 tac and 2 sb).
Strafe Yugo with 6 inf, 2 art, 3 tank, 1 fig and retreat to Romania. If that’s a fail, meaning getting stuck in Yugo, then likely try for the I2 DOW-move, where Germany does not DOW at all, yet enters Russia (Baltic and hopefully also Bessarabia or next best E Poland) on G3 while not being at war.
Pick up Bulgaria.
All available land + the Poland tac to France.
Shifting units to Poland and 1 aa to Germany (the aa likely moves back later for the likely needed defence of W Germany in G3).
Put the remaining sub in sz 124. Sure, it can hit sz 106 for pretty good gains, but it’s a 50/50-battle or even a 40/60 if you regard the transport to be included in the needed objective. I believe it can be put to better use later, if allowed to, and I also do prefer the Brits having to invest resources to hunt that sub down. Even better if they combine their remaining fleet from sz 111 with a des from sz 109 to kill it off, since then I only have one target in the North Sea during G2.
If Russia sets up optimally, I think entering the Baltic without reserves on the go is problematic. Then stacking in E Poland could be better. Likely in that situation Germany might get a little stuck on G3, but the nice part is that Russia then has to choose between protecting the northern or the southern provinces. Germany should be able to move accordingly as long as there is no serious threat of getting wiped out.