I am referring to the 2nd law, F=ma.
The 500+ Newtons is still generated, and in just 49 microseconds!
The only reason an impulse can be that low is due to such incredible speed (low t/time) above.
Your finger won’t be any less damaged by the resulting small impulse quantity.
You also need to consider the forces resulting from the cavitation itself.
The initial impulse is extremely low and quick due to the force required to generate the acceleration. But when the appendage is actually striking a target the impulse is going to depend on the body it is striking. They are using a metal force transducer that is in a fixed position, it is going to be able to decelerate much faster and generate a higher impulse and deliver a larger amount of force. Meanwhile if it was my finger which has soft tissue and is also attached to a hand that can move and is not rigidly fixed in place, the deceleration and impulse will be significantly lower.
Punch a concrete wall and then punch a balloon. Both strikes have the exact same energy and momentum but how the target is capable of absorbing or deflecting that energy and momentum matters a lot. I quote from the article you posted:
"Inelastic impacts on hard substrates cause a rapid change in acceleration over a very short time period and thereby generate high peak forces and low impulses. The material properties of a substrate can influence the recorded peak forces, through the time course of this change in acceleration and associated absorption of energy. Thus, the peak forces produced by mantis shrimp in this study should be interpreted in the context of the steel surfaces that they struck; a more energetically absorptive surface would yield lower peak amplitudes."
Also:
"In natural conditions, peacock mantis shrimp carefully position a snail on a firm surface or anvil-like rock, and then deliver a blow that typically causes little movement of the snail. In this study, a force sensor(load cell) was mounted at the base of an aluminum beam that was manually presented to the mantis shrimp. This arrangement permitted minimal movement of the apparatus when struck."
Context matters in physics guys, a lot. The acceleration numbers of a mantis shrimp strike are fantastic, I love what they are capable of. But the acceleration is one tiny piece of the puzzle, the numbers that matter are mass and velocity, and the mass is almost nothing and the velocity is not all that fast because of the very short distance and time that acceleration is applied across. This isn't a bullet having an entire barrel to accelerate out of, this is a limb that has a centimeter or two to move.
There is a risk of bodily harm but really it's not all that serious. Plenty of people get hit by mantis shrimp, it makes you bleed. It gives you a nasty bruise. It's not going to break bone or anything of the sort. This is not all that different than the risk of putting your hand in a tank with a big 6" female maroon clown and her cheek barb slicing you.