Why aircraft carriers made new battlecruisers obsolete

Would Hood or Renown be the better basis for a new British battlecruiser squadron after Japan left the treaties?

Renown with triple turrets is preferred as a basis, but carrier aviation makes a new fast battleship the more sensible choice.

Renown is the preferred starting point if triple turrets can be used. The larger objection is to building another battlecruiser squadron once carriers are viable. Carrier aircraft remove the assurance that speed can keep a battlecruiser out of an unfavorable fight. Fast battleships therefore become the more sensible route.