Okay, wine is my thing, not mead, but I believe it works the same way. I see that you have two options
1. Rack, sorbate and sulfite (sorbate works better with sulfite), and then add water and honey for sweeteness. Let it age for awhile (I'm gathering it is young), which will also help disappate the sorbate/sulfite taste along with improving mead flavors.
2. Rack, probably sulfite just to make sure the water you add doesn't have contaminates. If you add honey at this stage, it will start fermenting again, and you would have to start over. Let it age for six months or so in which the yeast starve to death and completely die out. I believe if you rack again, your mead would be purged of all the yeast, and then you can add honey without the sorbates. Somebody else want to verify this process?