It's worth pointing that while they did consider it, they decided that the required conversion was too expensive and the resulting carrier wouldn't have enough capabilities to be worth it. Remember, the FAA was still flying Swordfish when the design was drawn up and any design derived from it is going to suffer from it, a ship with the same hull even more so.
Hangar height is probably going to be the worst area closely followed by deck strength.
Hermes have a hangarheight of 16 or 17.5ft, enough perhaps for a the compact Sea Harrier, but nowhere near enough for any sort of successor plane, especially if you want CATOBAR to be a future option.
Similarly I believe Hermes' deck was strengthened to take 40,000lb class aircraft. ANy serious successor aircraft is going to be in the 60,000lb class.
In the end you can't get around the act that with all the design changes you're going to need (Some of which I'm not at all convinced are even possible) you're going to end up with a ship that has very little in common with the original Hermes design, at which point you might as well start over from scratch and get a ship that's actually going to work.
And even if you manage to overcome all that you're still left with a not so great carrier with little to no room for future growth operating not so great jets that are well on their way towards the end of their development cycle by the time the ship enters service.
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