$$P_{fluid} = P + \rho gh$$
where,
- $P_{fluid}$ is the pressure at a point in the fluid
- $P$ is the pressure at a reference point
- $\rho$ is the density of the fluid
- $g$ is the acceleration due to gravity (usually 9.8 m/s$^2$)
- $h$ is the height of the fluid column above or below the point
This formula can be derived by considering a small volume element of fluid with area $A$ and height $h$. The weight of this volume element is:
$$W = \rho V g$$
where,
- $W$ is the weight of the volume element
- $\rho$ is the density of the fluid
- $V$ is the volume of the volume element
- $g$ is the acceleration due to gravity
The pressure exerted by this weight on any surface in contact with it is:
$$P = \frac{W}{A} = \frac{\ m g}{A} =\frac{\rho V g}{A} = \rho V g$$
Let's keep it simple and use
$$P = \frac{\ W }{A}$$
W = weight of stuff above the area upon which pressure has to be calculated.
Before immersing the sphere
$$W = W_{fluid}$$
After immersing
$$W = W_{fluid} + W_{sphere}$$
$$W_{sphere} = 0$$
Since whatever may be the net force, tension in string is always gonna balance it!
Hence
$$W = W_{fluid} + W_{sphere}$$
$$W = W_{fluid} + 0$$
$$W = W_{fluid} $$
$$P = \frac{\ W}{A}$$
W is unchanged
A is unchanged
Hence P remains same and thus the total pressure at bottom.
Concerning the height of fluid it's going to increase obviously but it won't affect the net pressure on bottom, proof for this
can be made by assuming a two thick disks one upon another in place of sphere and then doing calculation for pressure at bottom, this will show that whatever number of disks are introduced between two disks result will be same.