DBWI-HMS Vanguard Built

The other day I was browsing Ships That Could Have Been by Thomas Roman and I came across HMS Vanguard. Had she been built, she would've been the most powerful battleship in the Royal Navy's history. Unfortunately, she was cancelled in the autumn of 1941 before even being laid down, due to the RN's priorities shifting away from battleships and towards aircraft carriers.

My question is what kind of POD would be required to have Vanguard built and what effect would she have on WW2?
 
If you look back over the history of RN battleships, it's clear that the VANGUARD was envisaged as supplementing the battle fleet in the East. That's why she was cancelled - after the Battle of Okinawa in February 1941, Japan was pretty much a non-issue. Moreover, in hindsight, had she been built she'd have missed the war spectacularly; it's hard to see her being launched before late 1944, when Germany was defeated in April 1943!
 
I think we have to delay the Pacific War, possibly permanently. Otherwise Vanguard is just a waste of resources needed more for the U-boat campaign, almost certainly won't be ready before Japan is defeated and won't make any significant contribution even if she is. Building her would be crazy.
 
Perhaps we can avoid having Bismarck getting sunk by Swordfish from HMS Ark Royal, HMS Victorious, and HMS Furious after the Battle of Denmark strait. The fact that such a powerful battleship had been felled by aircraft convinced the Royal Navy to re-evaluate its priorities. Of course, the crews of HMS King George V and HMS Rodney, which had been involved in the hunt for Bismarck, were quite sore at the fact that they were not the ones to avenge HMS Hood.
 
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