It is possible to get the tone as absolutely perfect as the tone can be, and still make an enemy of the boss.
It's also possible to get the tone totally wrong and to not make an enemy of the boss.
The biggest variable in this is not the tone of telling him to back off. It's the boss.
Making this a judgement call for Chikane, as to which path to go down.
A judgement call where there's no certainty as to how things will pan out. Because, for example, the boss may have given the impression that he'd be fine about being told to back off, when the reality is that he'd become her secret enemy, with him being in a position of some power.
Or he may have given the impression that he'd take any rebuffs badly, but the reality might be that he'd be fine about it all.
Or he may be entirely predictable as to how he'd react.
It is possible that the least worst route would be a combination:
Have a word privately with the boss, aiming to get the tone right.
The same day, inform HR or the bosses boss. Or report it to them at a later date, depending how things pan out.
Start looking for alternative employment today.
With this particular combination, it would make sense to tell HR / the bosses boss, to keep the information in the strictest confidence and to take no actual action short of dismissing the boss. You'd tell them that you've discussed it directly with the boss and hope that that will be an end to the matter. And that you're merely informing them in event of sour grapes behaviour from the boss, such as a completely biased unfair annual performance review from him, which they should look out for. And that you're informing them so that they can look out for him behaving like this to other employees or clients. Some of whom may not be as confident as you in speaking directly to this boss about it.
Or say nothing to anybody at work about this situation. Start looking for a job elsewhere today. If and when the notice is handed in, be fully honest about all the reasons for leaving: "Better pay, more senior position elsewhere, as well as the conduct of my boss here, which I'd be happy to go into in as much detail as you want..."
When it comes to no-one liking a snitch. The person being snitched on, is likely to hate the snitch. HR and the bosses boss will love snitches if they're good at their jobs. The trouble is. that's a fairly big IF for the bosses boss. As workplaces are full of poor to mediocre managers.