A 1942 war and British capital-ship modernization

If war had not begun until 1942, which British capital ships could have been refitted or completed?

Hood and the Nelsons would likely be refitted, with other battlecruisers and Queen Elizabeths possible; new King George V, Lion, and Vanguard ships would add numbers.

Hood and the Nelsons would probably receive their needed refits by 1942, with Repulse and surviving Queen Elizabeth-class ships also possible candidates. Britain wanted a rapid modernization surge while new King George V, Lion, and Vanguard-class capital ships entered service. Retaining the R class would preserve numbers while more capable units were temporarily unavailable in dockyard hands. The carrier programme would also continue, including the Illustrious and Implacable families and possible follow-ons to Unicorn. The result is coordinated force generation through refit, new construction, and temporary retention rather than one isolated ship programme.