There has been lots of alternative history about that scenario. Tory historian Niall Ferguson has argued if the Brits stayed out the British would still be a world power comparable to the US. Quick history might of meant no Hitler or Russian Revolution.
And the Ottoman Turks would still be the caretaker of the Muslim world, instead of the Arabs.
What titles?
No, more likely we would have had to have fought a an expansionist Imperial Germany at some point, except the Germans would have had a much larger economy, a bigger navy and a bucketload of battle-hardened troops and we’d have no friends or allies to fight alongside us. We where right to take them on whilst the circumstances were still favourable.