| mosttornbrain |
What is the intent of the person holding the knife? If they had intended to kill the player, they could have done it while the PC was sleeping via a coup de grace, since at that point the PC was helpless, but now that the PC is awake, they are no longer helpless if someone is simply holding a knife to their throat.
If you are trying to work within the rules-as-written to reflect the PC is in a dire situation, then just a knife to the throat is not necessarily it, depending on the level of the PC. But, adding they are surrounded by a group of enemies, it would not be in the PC's best interest to try to fight their way out.
Or, you could rule the NPC had pounced on the sleeping PC and grappled or pinned them automatically (since they were sleeping and helpless) and that is what woke them up. And that would make the situation more dire from the PC's point of view - being pinned *and* having a knife to their throat.