Could Britain have redesigned the first King George V ships after Japan left?

Could Britain have redesigned the first three King George V-class ships after Japan left the treaty system?

Possibly, but only with a larger retained industrial base and less interwar shipbuilding rationalisation.

The counterfactual is conditional rather than automatic. Britain would have needed the industrial capacity left in place and avoided parts of the 1930s rationalisation associated with Neville Chamberlain as chancellor. Without that shipbuilding margin, changing the first three battleships after Japan's treaty withdrawal would be much harder.