What is the likelihood that I'll fail my degree?

Tutors don't 100% make sure that anyone don't fail. About a certain percentage of a cohort would get third class and lower each year. If I'm not mistaken, in my year (different university than Liverpool) about almost 50% to 40% were awarded 2:2s and lower?

If it reassures you, I have scored as low as 29% in my undergraduate modules and were never afforded any resits for them since I was a final year student at the time. I've averaged a-okay previously, and I managed to pull my performance to as high as 80% in three months to save my undergraduate degree with an upper-second.

It is possible to not fail at all and do remarkably well if you know how to fix and vastly improve your current performance, especially since you have said that you have averaged 2:1s prior.

Thing with university is that very rarely academic tutors would come as close as helpful regular school teachers. You need to be able to sit down and identify what are causing you to score these low marks in the first place. That's the bulk of the work, in my opinion. On top of that, you can (and should) engage with your university's available resources as much as you can — e.g. library sessions on academic skills (i.e. how to research, how to cite, classes on critical analysis, demystifying exams, etc.), try counselling and mental health workshops if you can, study in the library as often as you can, and so on.

Personally, what have immensely helped at the time were my university's mental health workshops, any academic workshops, attending lectures regularly, and participating in formative exams. I also fully utilised the general cohort feedback in those formatives to understand and follow the format that the lecturers used.

It's a good thing that you are given the opportunity to resit, and I think that you can do them well.

Reason why I typed this much is because people needs the reminder from time to time, so sorry if it's too lengthy.