Potential Cymbidium pseudobulb rot?

[Wingston75]

Hi everyone,

first time poster here (and resurrected orchid enthusiast).

I've just built up a new orchid collection and in the process of fitting out an IKEA cabinet to become my orchidarium. Until the fern panels and corkbark are all fitted - and whilst its still early in the year - I've had the vast majority of my collection sitting atop the cabinet just beside our front room bay window.

This morning I noticed that one of the prides of my new collection - a Cymbidium Kiwi Midnight (bought from eBay,), which has two large, plum and firm brown backbulbs, one previous, much more slender bulb growth, and a new shoot coming off the aforementioned slender growth - has what potentially looks like a case of pseudobulb rot on the slender growth (photo <hopefully> attached to this post.
in the picture there's a horizontal white highlight on this slender growth. Below this highlight, the bulb is firm, above it, it feels softer and can be depressed when applying pressure.

My questions are:
i. does this look like a case of pseudobulb rot, and;
ii. is the new growth shoot in danger? And - if so - is is possible for me save the new shoot by removing the growth and cut away this slender pseudobulb, separate the new growth (both with sterilized rubbing alcohol scalpel) and then repot the new growth (poss treating with cinammon powder, I have read?)?

And if so, should it go in a different pot (with/without the established backbulbs) with fresh potting mix?

for complete info , the ave temp of the room is around 16-18C / 61-65F in the day (not sure of the night as I'm in bed!), and the humidity between 58-63%. The cabinet (which this orchid has not yet been in), has growlights and a fan for air circ, no additional heating. The fern panels will be fitted back and side for natural look and to retain humidity, and it will have a coir floor, with live sphag moss covering.

Thanks in advance for anyone's help - I desperately want to ensure this orchid isnt lost, I hunted high and low for this plant as I had my heart set on it.