With a much higher proportion of the RAF and Army committed, and most of the carrier force...yes, eventually, although not without several ugly surprises along the way. Kido Butai is going to make a terrible name for itself.
How terrible depends on what year or month this war starts. In 1939 the KB has few to none of the advantages it had in late 1941. ie: The A6M fighter plane, the Zero, was just entering production in 1940 & even if push harder than OTL there will not be many squadrons ready for combat until the spring of 1941.
The concept of using multiple carrier wings as a unified unit for attack did not appear with the Japanese until latter 1940 & required months of testing & development/training to make practical.
The British had figured out how to use radar in combat by late 1940 in OTL. If theis Japanese war starts in 1939 the devlopment is liable to be the same, and fairly swift if the war comes in 1940 or 41. While the Japanese navy had some understanding of the possibility in 1939 the leaders had little idea of how far the British had brought it or the actual technical capabilities.
At any time in this era the British were as well trained at night naval battles as Japans navy.
Japanese carriers seem to have been more fragile, tho they had a larger average sortie capability. I'll leave the merits of the aircraft for others, except the A6m will become available for combat from late 1940.
OTOH, Britain won't be crippled by a failure-prone set of torpedoes, which will mean the Japanese ships go down much more quickly to submarines.
Britain also had a class of long range, fast & deep diving submarines, designed specifically for operations in the Pacifc.
Unlike with Germany in the 1930s Britain had not been ignoring Japans radio security. They had broken some of Japans military codes & had accumulated a solid base for breaking the rest of them. By the end of 1941 they had penetrated about half of the 25 to 30 codes or encryption systems Japan used for its military operations. Whlie the apanese Naval had a very capable signals analysis section Japans military in general had little sucess in penetrating any of the major British codes/encryption.