Could Brazil and Argentina buy improved Agincourts?

Could Brazil or Argentina order improved Agincourt-type battleships if the delayed-war design were built?

Probably not in the first generation, but a later order is possible, and British yards would be happy to build it.

The South American race would remain iterative, without every navy immediately adopting Britain's newest design. Brazil and Argentina would first have to absorb the strategic and financial effect of Chile receiving its ships. If the contest continued, an improved Agincourt-derived order could become plausible in a later generation. Britain would have little reason to object because another export would intensify competition among foreign navies.