Would Hood and Repulse receive modernisations?

Would Hood and Repulse be modernised if Norway reduced the pressure on the Home Fleet?

Possibly; the safer North Sea could free one or both ships for reconstruction, although the outcome remains uncertain.

Both ships might receive delayed reconstructions in this scenario. A controlled North Sea reduces the need to keep every fast capital ship continuously available for raider interception. That creates space to modernize Hood or Repulse while other battleships cover the barrier. This is a plausible allocation choice rather than a guaranteed refit schedule.