It would depend upon how many countries the British Empire was fighting more than anything else. If it was like OTL with the Royal Navies fighting Germany, Italy and Japan without any significant allies the Japanese would still win because the increase in the size of all 4 navies meant that the RN was still spread too thinly.Well, this case it would mainly depend on the aircrafts. But if it was a random pitch battle like Denmark Strait, e.g a bunch of Lion encounter Yamatos and worse, A150 on its way like Prince of Wales meet Bismarck OTL, the RN would get their ass whopped by Yamato, Musashi and A150 (20 inch gun would tore a Lion apart).
Though ITTL the projected expansion of the Dutch Navy would have been well advanced by early 1944. They might have even completed some of their projected battle cruisers.