A treaty system built around 45,000-ton capital ships

What might happen if naval treaties allowed each major power a class of 45,000-ton battleships?

The powers would probably build whole classes of larger capital ships, prompting an international cycle of enlarged designs rather than a single exceptional vessel.

This treaty system would change force structure across the major navies. Britain would probably build several 45,000-ton fast capital ships derived from G3-era thinking, with the United States and Japan receiving corresponding shares. France would face pressure to respond, and German ships such as Bismarck and Tirpitz would need to grow if they were meant to challenge the resulting Royal Navy force. The Second World War would then feature larger and more destructive capital-ship engagements.