What should one do if offered the imamate while not having memorized much of the Quran, even though he is determined to memorize more and increase his knowledge, but now fears showing off and losing the spiritual merit he found within himself due to the imamate?

It is recommended to lead prayers in the mosque due to the immense reward associated with congregational prayer, and it is better than abandoning it. It may even become an individual obligation (fardh ayn) if no one else is fit for it. The virtue of imamate, according to some scholars, is greater than that of the adhan (call to prayer) because the Prophet (peace be upon him) and his Caliphs undertook it themselves, and because it requires more qualities of perfection, and because it is obligatory in every congregation. Imamate—like leadership and judgeship—though perilous, if Allah's command is upheld therein, it becomes one of the best deeds. It is desirable to be keen on it, provided the motivation is not the love of leadership.