Why the rebuilt Towns would skip Graf Spee

Would the rebuilt Town-class cruisers be sent to the South Atlantic against Admiral Graf Spee?

Probably not. Their better use would be reinforcing the Northern Patrol and Norway convoys, where their speed, anti-aircraft fire, and destroyer-killing battery could support merchant cruisers and flotillas.

The proposed assignments keep the four conversions on the northern barrier and the Norway routes. They could support armed merchant cruisers alongside modern Town-class cruisers, then protect troop convoys moving to and from Norway. One further possibility places a converted Town with the British flotilla attacking at Narvik. Its gun battery is expected to be dangerous to German destroyers, although the close action would expose it to torpedoes.