(She's also a little surprised, but not really confused per se. It doesn't violate her model of physical reality that someone could still have a faint-but-palpable pulse after like three and a half minutes of submersion.)
...Okay but he's still not breathing, which means that Merrin now has to solve the STUPIDEST PROBLEM. She's been aware of it since before she caught up to him, because in a rescue scenario she's always thinking multiple steps ahead for multiple contingencies.
The problem is that Merrin did not pack with the assumption that she would be rescuing anyone but herself.
And so she has oxygen, but only in her suit tanks. She even has some improvised adaptors and tubing that would let her hook up an oxygen cannula to inside her suit, if for some reason she had to take it off to repair it and also at the same time she was having a respiratory problem (since under remotely normal circumstances she would simply not need extra oxygen, she's fully acclimatized to the atmosphere now.)
She does not have a setup to provide artificial ventilation from her suit reservoir, because why in the world would she have that, if Merrin were at any point not breathing on her own then she would definitely not be in any shape to do anything about it to rescue herself, right.
She can unseal her helmet and do mouth-to-mouth ventilation - if she tanks the risk that he might have radon gas in his lungs, but since she grabbed him her suit sensors have not actually detected any radioactivity, so probably he didn't go very far into the cave or didn't stay for very long and only took a small dose to his lungs, one she can't actually detect from outside his chest cavity - but the stupid problem. Is that normally this works because, when one is breathing 21%-oxygen air, the exhaled air still has about 16% oxygen, which is far from ideal but is, like, at all workable. But right now Merrin is breathing 13.5% oxygen air, and her exhaled air will have, like, 8% oxygen probably, and that's well into the Death Zone-equivalent-altitude when converted to a partial pressure and is simply not workable at all.