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Faint-(adverbial) faded-away-went, dawn (topic) far(-adv) — 微かに is the adverbial of 微か (na-adjective + に); 消えていった is past of 消えていく (fade away).

夜明け is the moment of first light — used as a metaphor for hope, breakthrough, end of suffering. 'Dawn is far' is the J-pop way of saying 'relief is nowhere in sight'.

You (topic) one-person, exit (subj) not-exist dream's inside at — 出口のない is a relative clause where の marks the subject of ない.

出口のない夢 ('dream with no exit') is a recurring SAO motif — Yuna is an AI ghost trapped in the player network. Aincrad in the original, Ordinal Scale in the movie: dreams that won't release you are the franchise's signature horror.

Tears only (subj) road (obj) illuminated — だけが narrows the subject to 'only X', a more emphatic version than just だけ.

Tears as the sole light source is a Sayaka Kanda image — paradoxical, beautiful: the very thing that obscures vision is what illuminates the way. Only-tears-lit-the-path is one of those Japanese-lyric inversions that lose almost nothing in translation.

You (topic) just cry-(te) — ただ as adverb intensifies the simplicity/futility of the action: 'merely', 'nothing but'.

ただ + verb is the Japanese 'all you did was X' — heavy with implied 'and nothing else, despite everything'. The te-form ending leaves the line open, like an unfinished sentence.

Hold-each-other-tight shape (obj) know-(te), someday light's inside at — the 形を知る ('know the shape of') is poetic for 'come to understand by feeling'.

形 (katachi, 'shape/form') is one of the most-used poetic nouns in J-pop. 愛の形, 別れの形, 抱きしめ合う形 — giving abstract things a 'shape' is uniquely Japanese-feeling.

Searched, forgot (te), didn't-know — three verbs in past sequence, the middle one in te-form to chain into the next.

Sequencing past actions with te-form (探した、忘れて、知らなかった) is a stylistic choice — using te-form to chain creates a flow rather than a list. It's how you say 'all of these things happened, and they happened to me'.

Kind person's voice (obj) search-(te), wander — the te-form here links two simultaneous actions: 'wander while searching'.

彷徨う (samayou) is a literary, slightly archaic verb for aimless wandering — used for ghosts, lost souls, characters in liminal states. The everyday word would be うろうろする.

Someday, light's inside at — refrain echoing verse 4. No verb, only setting: a place and time of imagined release.

光の中で ('inside the light') is heavy with afterlife/transcendence overtones — for an AI character song this is especially poignant: salvation = becoming part of pure light, deletion as ascension.