[anthony-wohali]

If the existing cathodic protection system is adequate, it should easily protect the portion of pipeline in the water as water is less resistive than soil. However, you might consider installing a permanent reference electrode in this location for occasional measurement.
I believe however that the biggest risk will likely be possible crevice corrosion at the tape to paint interface.
A very diligent visual inspection procedure should be established to insure the exterior of the pipeline remains corrosion free.