I don't think we'll have a catastrophic cascade leading to Kessler syndrom even if these two satellites collide today, but few more such events might be enough.
EDIT:
Also, the collision will be off-center and, eyeballing the orbital diagrams, some 15 degrees shy of being head-on. That means you can expect most of the both satellites not being directly involved in the collision, but instead gaining spin and breaking apart under stress. Those surviving pieces will then keep most of their orbital velocity and heading, but scatter like buckshot, each piece on slightly different orbit, migrating further over time.
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[0] - https://www.spaceacademy.net.au/watch/debris/orblife.htm
[1] - Orbital decay due to atmospheric drag is a function of mass to area ratio. I'm not sure whether the debris from a hypervelocity collision tends to be more like irregular, high-drag shatter, or like low-drag spheres of superheated metal that cooled off radiatively.
How can we tell it will be off-centre if there's enough uncertainty in the orbital prediction that they are only "1% to 20%" to collide at all?
~ 150 km making single orbit becomes impossible.
~ 300 km orbital decay is ~km/month, so it already takes years to fall down to earth. ISS is at 400 km and decays 2 km/month. It has unfavourable mass to area ratio due to all those solar panels.
~ 500 km it takes few decades to fall down. (Hubble space telescope is here)
990 km is the altitude where these two satellites might collide. Debris can stay up thousands of years .