What a British Ticonderoga counterpart might have looked like

Would a British counterpart to the Ticonderoga class have used a true cruiser hull?

Probably; a larger Royal Navy would likely continue the Tiger or large Town-class cruiser lineage for a major guided-missile presence ship.

A non-declining Royal Navy would probably retain cruisers as major presence ships rather than place a Ticonderoga-like combat system on a destroyer-derived hull. The design lineage would continue from the Tiger class and British experience with the large Town-class hulls. A ship broadly comparable to an enlarged Belfast provides the likely scale and form for such a guided-missile cruiser, linking hull choice to global presence as well as weapon capacity.