I've never really been in that exact same situation before but once a 6'5 guy showed up who used to play in the highest league in our country and this dude was shooting 3s and fade-aways like crazy. He also had very good handles for his size and didn't even bother to post up (which would have been easy for him, because he was way taller than anybody else). I think he only missed one shot and one dunk. everything else was nothing but net and the game was over within a couple of minutes!
But it wasn't like anybody else wouldn't dare to shoot or so.. But since he made almost all of his shots there were not many opportunities for the rest of us to shoot the ball
But I know what you're talking about. When I play with very good players I sometimes tend to get hesitant too.